Xi Jinping
President of the People's Republic of China
Xi Jinping
President of the People's Republic of China
Global Trade War Escalates: China Slaps 84% Tariffs on US Goods Amid Market Turmoil
- Wednesday, 09 April 2025
China will impose an 84% tariff on US goods starting Thursday, a significant escalation of the global trade war sparked by US President Donald Trump’s decision to impose tariffs on imports from almost all nations. Trump's tariffs, which include a 104% effective levy on Chinese goods, have caused global financial markets to tank, with the FTSE 100 dropping 3.6%, Germany's DAX falling 4%, and France's CAC 40 declining 4%. US index funds are also expected to fall when they open at 2:30pm UK time. Trump appeared unrepentant about the economic damage caused by his decisions, boasting that countries are "kissing my ass" in an attempt to negotiate with him.
