On April 10, 2025, China announced the imposition of an 84% tariff on imports from the US in retaliation for recent US tariff increases.
Reasons for Tariff Increase
The Chinese Ministry of Finance characterized this new import tax as a defensive measure against the US tariff hike announced on April 9. This action underscores a new chapter in the lengthy trade confrontation between the two countries.
Economic and Political Implications
The tariff increase is seen not only as an economic strategy but also as a political message. Beijing's Tariff Commission condemned Washington's actions as 'economic bullying' and a form of 'unilateralism', warning of possible breaches of international trade norms.
Impact on International Markets
Market reactions to China's decision are significant, especially in the cryptocurrency sector, with investors retreating amid growing uncertainties. Experts caution that these reciprocal tariffs could destabilize not only bilateral relations but the broader global economy.
The ongoing conflict between the US and China is likely to influence not only current economic dynamics but also future trading policies.
