Beijing: In a sharp escalation of trade tensions, China has imposed an 84% tariff on American goods, effective April 10, in response to the United States’ steep 104% tariff on Chinese imports announced just a day earlier. The tit-for-tat tariff war between the world’s two largest economies has triggered deep concern in global markets.
Reacting swiftly to the US move, Beijing not only ramped up tariffs but also blacklisted 12 US entities from its export control list and six firms were added to its “unreliable entities” list, reflecting China’s growing frustration with Washington’s increasingly aggressive trade posture.
The fallout was immediate on Wall Street. Dow Futures plunged 1.7%, S&P 500 Futures fell 1.5%, and Nasdaq Futures dropped 1.3%, reflecting investor fears over prolonged economic friction and disrupted supply chains.
Amid the turmoil, China has called for restraint and dialogue. “We urge the United States to return to the path of consultation and cooperation to resolve disputes through communication,” a Chinese trade official was quoted as saying.
The US-China trade relationship has been under pressure for years, but this latest exchange marks one of the sharpest escalations in recent memory. Analysts warn that continued economic confrontation could reverberate across global supply chains, affecting industries ranging from electronics and automobiles to agriculture and semiconductors.
