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Donald Trump raises tariffs on all China imports to 104 per cent as trade war heats up. | *Subscribe and 🔔: http://9Soci.al/KM6e50GjSK9*
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China retaliated against new tariffs imposed by President Donald Trump by announcing it would raise duties on US goods, roiling markets and deepening a trade war between the world’s largest economies.
The Chinese government will impose an 84% tariff on all imports from the US starting April 10, the Finance Ministry said in a statement Wednesday. China’s move came hours after the steepest American tariffs in a century went into force, taking Trump’s duties on Beijing this year to 104%.
President Xi Jinping’s latest moves mirror the extra levies Trump put on Chinese goods as a punishment for Beijing’s last retaliation. With tariffs now soaring beyond the level economists say would decimate bilateral trade, any further duties would serve as a political statement rather than a way to apply economic pressure.
Read more: https://www.bloomberg.com/news..../articles/2025-04-09
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The US President rocked global markets again. Donald Trump took to Truth Social to announce even tougher tariffs on China and a 90-day pause on higher tariffs for dozens of countries.
James was joined by Dharshini David, Deputy Economics Editor, and Erin Delmore, North America Business Correspondent in New York as the news broke.
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A hearing at the US Senate has blown up over tariffs imposed on Australia by the Trump Administration, despite the US holding a trade surplus over the country.
US Trade Representative Jamieson Greer was testifying before the Senate Finance Committee over the hugely contentious tariff policy, which has sent global markets plummeting.
Democratic senator Mark Warner questioned why Australia had been hit with a tariff despite an existing free trade agreement and the nation's status as "an incredibly important national security partner."
Greer, in response, offered up the oft-repeated line that "[Australia] ban our beef, they ban our pork," and that "we should be running up the score on Australia."
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President Donald Trump’s so-called reciprocal tariffs are now in place, pushing US levies imposed on China this year to as high as 104%. Bloomberg's Minmin Low reports.
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CNN’s Fareed Zakaria, host of “Fareed Zakaria GPS” shares this take on President Donald Trump’s tariffs, including the repercussions he predicts. #CNN #News
Today, we attempt to answer your questions about US President Donald Trump and the worldwide impact of his tariffs.
James Cook and Alex Forsyth are joined by Caitríona Perry, BBC News’s Chief Presenter, and Dharshini David, Deputy Economics Editor to relive the week that was. Plus - how could tariffs effect UK consumers and when will people (in the US and UK) start to feel it in their pocket?
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China has upped its retaliatory tariffs on US imports to 125%, escalating the trade war between the world’s two biggest economic powers. Chinese leader Xi Jinping struck a defiant tone in his first public comments on the trade war, saying his nation was “not afraid.” #CNN #News
President Donald Trump’s tariffs on Chinese imports are now at least 145% as he aims to drive down the trade deficit and punish for Beijing for retaliating US tariff measures. Trump said he raised the reciprocal tariff on China to 125%. But that number did not include a 20% levy put in place earlier this year because of China's role in fentanyl trafficking. Bloomberg's Kailey Leinz reports.
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The European Union says it is putting its retaliatory tariffs against the US on hold after US President Donald Trump paused his tariff hikes for 90 days.
European Commission President Ursula von der Leyen said the EU wants "to give negotiations a chance" after Trump announced yesterday that there would be a 90-day pause for nations hit by higher US import tariffs.
Trump’s universal 10% levy for all countries, except China, remains in place - as does the 25% rate for all aluminium, steel, and cars entering the US.
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Trillions of dollars flowed back into Wall Street, after a tariff backflip from the White House. The benchmark S&P 500 index posted its best one-day gain since October 2008 with a 9.5 per cent rise, while the tech heavy Nasdaq Composite surged 12.2 per cent, driven by the Magnificent Seven stocks with Tesla, with NVIDIA Corp and Apple leading the gains. Australian stocks increased in value by almost $120 billion, as the local sharemarket posted its best one-day gain since 2020. The benchmark ASX 200 index surged 4.5 per cent to 7,710 points, while the broader All Ordinaries index jumped 4.7 per cent to 7,914 points. However, market analysts are generally warning that investors should expect more extreme volatility until the tariff situation is finally resolved. Mr Trump called a 90 day reprieve on his tariff war and slashed the tax to just 10 per cent for all nations except China. For weeks, he's shrugged aside an unrelenting fall on Wall Street as stocks dived on the prospect of lower growth, a spike in inflation and the growing chance of a recession. But on Tuesday, after weeks of discontent, the real power players on financial markets took action. In an unprecedented attack on America's global financial dominance, they began abandoning US government bonds, sending market interest rates sharply higher. It was an ominous sign that the world was losing faith in America and that the US would pay the price.
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Last Wednesday, Donald Trump unveiled an additional 34% tariff on all Chinese goods imported into the US, bringing duties on all Chinese imports to the US to well over 54%.
Then, China hit back with 34% retaliatory tariffs on imports of US goods.
In response, the US president said Washington will impose additional 50% tariffs on China if the nation does not withdraw its 34% retaliatory tariff by today.
China did not.
Sky News' Gurpreet Narwan explains the possible impact of more tariffs on China and on world trade.
Read more: https://news.sky.com/story/wha....t-china-could-do-nex
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United States President Donald Trump’s sweeping tariffs on dozens of trading partners took effect on Wednesday (Apr 9), including a 104 per cent duty on China. CNA’s Elizabeth Neo crunches the numbers to find out they will impact the cost of items for American consumers.
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President Trump implemented his sweeping tariffs on U.S. trade partners. The European Union has now approved new tariffs on U.S. goods and China is also hitting back. NBC News’ Kelly O’Donnell and Janis Mackey Frayer report the latest. CNBC senior markets correspondent Bob Pisani and New York Times trade and economics reporter Ana Swanson join Ana Cabrera to provide more insight on the global impact.
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China announced it will raise tariffs on U.S. goods to 84% starting April 10, in direct response to President Trump’s latest tariff hike.
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China has retaliated in the ongoing trade war with the US by imposing 84% additional tariffs on US goods, bringing the total Chinese tariffs to 118%. This move comes in response to Trump's 104% tariffs on Chinese goods. The escalating trade war is causing uncertainty in global markets, with the Bank of England warning of increased risks to global economic growth. The situation presents both opportunities and challenges for India, as Indian exporters might find new markets while facing risks from Chinese goods. #uschinatradewar #trumptariffs #globaleconomy #itwebvideos #tariffs #economicimpact #indiatrade #globalmarkets
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China is continuing to seek adequate responses as it remains the target of massive US trade tariffs despite US President Donald Trump's turnaround decision on Wednesday to pause the hefty levies he had just imposed on dozens of other countries. Trump has raised the tariff on Chinese imports to the US to 125%, up from the 104% levy that went into force on Wednesday. Beijing, in its turn, may well once more up the 84% tariffs it applied to US imports on Wednesday in retaliation to Trump's initial move. It has vowed to "fight to the end" in the trade war that is rapidly escalating between the world's two top economies. China says it has held talks with the European Union and Malaysia on enhancing trade ties in response to the friction with the US. It also said it had filed a protest with the World Trade Organization (WTO), complaining of "bullying" tactics by the Trump administration.
Trump, who says he raised the tariffs on Chinese imports in response to China's "lack of respect" for global markets, has insisted that a trade agreement will be reached with Beijing. "A deal's going to be made with China," Trump said, while adding that China's leaders "don't quite know how to go about it." China is the second biggest provider of imports to the US after Mexico.
China has called on the United States on Thursday to meet it "halfway" as a trade war between the world's two top economies gains momentum, but promised to "fight to the end" if no compromise can be reached. "The door to dialogue is open, but it must be based on mutual respect and conducted in an equal manner," Commerce Ministry spokeswoman He Yongqian told a regular press briefing. The use of pressure, threats and blackmail was not the right way to deal with China, He said. She warned that US tariffs on international trading partners would "severely impact the stability of the global economic order." China would continue to resolutely safeguard its sovereignty, security and development interests, she said. China's Foreign Ministry also warned that the US tariffs were harmful to the whole world. The tariffs "seriously damage the rules-based multilateral trading system, and seriously impact the stability of the global economic order," Foreign Ministry spokesman Lin Jian said. "This is a blatant act that goes against the will of the world and goes against the whole world," he added.
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Bloomberg Opinion columnist Karishma Vaswani says President Donald Trump's aggressive tariffs could drive Asian nations to strengthen cooperation with each other and consider drifting back toward China, eroding America's strategic edge in the Indo-Pacific. Her views are her own.
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A sudden social media post from Donald Trump has turned all his tariff plans upside down, again. "Based on the lack of respect China has shown to the world markets", he declared, "I am hearby raising the tariff charged by the United States of America to 125%".
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As for the countries which he said had not "at my strong suggestion retaliated in any way, shape or form...I have authorised a 90 day pause and a substantially lowered reciprocal tariff during this period of 10%".
It took several questions to the White House press secretary to establish that this was a universal flat rate - and not on top of the 10% already imposed.
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China has responded to the US by imposing additional tariffs of 50 percent on imports, making a total of 84 percent.
This follows the US decision to put rates of 104 percent on China on Wednesday
China - the world's second-largest economy - is calling President Donald Trump's move 'reckless.'
The US administration pushed ahead with introducing a second round of global tariffs on Wednesday, despite worldwide concern.
Al Jazeera’s Katrina Yu reports from Beijing.
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