RT.com
09 Apr 2025, 18:04 GMT+10
Beijing has slapped 84% duties on US goods in retaliation for Trumps 104% levies on Chinese products
China announced on Wednesday that it will raise tariffs on US goods to 84%, up from the previous 34%, amid a deepening trade war between the world's two largest economies that analysts warn could spark a global recession.
Beijing's move came a day after US President Donald Trump declared a sweeping 104% tariff on all Chinese imports - far higher than the 34% hike he had initially proposed last week. On April 2, Trump imposed a baseline 10% tariff on all imports and introduced "reciprocal" duties ranging from 11% to 50% on roughly 200 countries he accused of maintaining unfair trade practices.
While most US trade partners threatened retaliation but moved to negotiate, China swiftly responded with its own levies, prompting Trump to escalate further.
The growing standoff has fueled fears of a global trade war and economic downturn. Financial markets have already taken a hit, with major indexes across the US, Europe, and Asia suffering declines for four consecutive days.
(RT.com)
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