Labour Day 2025: Top 5 Places In India That Played
May 2, 2025
BREAKING: China Hits Back With 84% Tariffs on U.S. Goods
Effective: April 10, 2025
Source: China’s Office of the Tariff Commission of the State Council
Background & Escalation:
-
Trump administration recently raised tariffs on Chinese goods to 104% (as of April 9).
-
China responds with its own tariff hike: from 34% to 84% on U.S. imports.
Economic Fallout:
-
Trade tensions threaten to cripple trade between the world’s top two economies.
-
U.S. Exports to China (2024): $143.5B
-
U.S. Imports from China (2024): $438.9B
-
Global markets tumble:
-
S&P 500: Down 20% → Bear Market
-
Kospi (South Korea): Also in bear territory
-
Shanghai & Hong Kong: Stocks plunge since April 2
-
U.S. Treasury Secretary Scott Bessent:
“This escalation is a loser for them.”
Context:
-
Part of Trump’s broader strategy involving previous tariffs on China, Canada, and Mexico, initially tied to combating fentanyl imports.
-
Other countries like Japan are seeking to negotiate — China is digging in.
Related Posts
RCB VS PBKS
May 2, 2025
