China responded to new tariffs imposed by US President Donald Trump by announcing on April 9 that it would increase tariffs on US goods to 84%.
Points of attention
- China escalates trade war with the US by imposing 84% tariffs on American goods in response to Trump's tariff increases.
- Global stock markets experience significant falls following China's countermeasures, impacting not only US markets but also European exchanges.
- China takes legal action by preparing to file a lawsuit with the World Trade Organization and adding 12 American companies to its export control list.
China has imposed new tariffs on American goods
According to a statement from the Chinese government, the countermeasures will take effect on April 10. As a result, tariffs on imported goods originating from the United States will increase from 34% to 84%.
China took this step just hours after Trump's massive tariffs, which reached 104%, took effect.
China also said it would file a lawsuit against the United States at the World Trade Organization and added 12 American firms to an export control list.
After China announced new tariffs on American goods, U.S. stock futures fell about 1.7%. Stocks in Europe fell more than 4%.
China called Trump's decision to escalate tariffs this week "mistake after mistake," while leaving the door open for dialogue with the US.
The publication notes that since Trump became US president for the second time more than 2 months ago, he has not spoken once with his Chinese counterpart, President Xi Jinping.
