In a sharp escalation of the ongoing trade war between the world’s two largest economies, China on Friday announced a significant increase in tariffs on U.S. imports. The new tariffs, now set at 84 percent up from the previous 34 percent come as a direct response to the United States’ decision to impose punitive tariffs of 104 percent on Chinese imports, which officially took effect earlier today.
The tit-for-tat measures reflect the deepening rift between Washington and Beijing, with both sides showing little sign of backing down. The latest move by China underscores its intent to retaliate forcefully against what it calls “unilateral and unjustified protectionism” by the U.S. government.
The U.S. tariffs, largely targeting Chinese electric vehicles, batteries, solar panels, and other high-tech goods, were introduced under the administration of former President Donald Trump and have now been expanded significantly in an effort to curb what the U.S. alleges are unfair trade practices by China. The new 104 percent duty essentially more than doubles the previous rate, raising concerns among global markets and manufacturers alike.
Beijing’s swift countermeasure raises the stakes further, potentially affecting a wide range of American goods including agricultural products, automobiles, and machinery. Analysts warn that the escalating trade tensions could have far-reaching consequences for global supply chains, investor confidence, and the broader economic outlook.
Despite mounting pressure from industry leaders and international allies to return to the negotiating table, both sides have remained firm in their positions. With no clear path to resolution in sight, the trade standoff is expected to cast a long shadow over global economic growth in the months ahead