RT.com
09 Apr 2025, 18:04 GMT+10
Beijing has slapped 84% duties on US goods in retaliation for Trumps 104% levies on Chinese products
China announced on Wednesday that it will raise tariffs on US goods to 84%, up from the previous 34%, amid a deepening trade war between the world's two largest economies that analysts warn could spark a global recession.
Beijing's move came a day after US President Donald Trump declared a sweeping 104% tariff on all Chinese imports - far higher than the 34% hike he had initially proposed last week. On April 2, Trump imposed a baseline 10% tariff on all imports and introduced "reciprocal" duties ranging from 11% to 50% on roughly 200 countries he accused of maintaining unfair trade practices.
While most US trade partners threatened retaliation but moved to negotiate, China swiftly responded with its own levies, prompting Trump to escalate further.
The growing standoff has fueled fears of a global trade war and economic downturn. Financial markets have already taken a hit, with major indexes across the US, Europe, and Asia suffering declines for four consecutive days.
(RT.com)
Get a daily dose of Caribbean Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Caribbean Herald.
More InformationLA PAZ, Bolivia: Rising prices are changing daily life for Bolivians, forcing families to cut back as inflation hits its highest levels...
NEW YORK, New York - U.S. stocks roared back to life on Wednesday after U.S. President Donald Trump back flipped on his recently announced...
AUSTIN, Texas: Attorney General Ken Paxton announced over the weekend that the state has launched an investigation into a company,...
LONDON, U.K.: Jaguar Land Rover has become one of the first major carmakers to pause exports to the United States in response to the...
WASHINGTON, D.C.: The Centers for Medicare & Medicaid Services (CMS) says it will not go ahead with a plan from the Biden administration...
NEW YORK, New York - U.S. stocks tumbled again on Tuesday, igniting fear of the fallout from U.S. President's Donald Trump's trade...
SANTO DOMINGO, 10th April, 2025 (WAM) -- A devastating roof collapse at a nightclub in the capital of the Dominican Republic has claimed...
U.S. stocks surge after Trump pauses many of his tariffsNEW YORK -- U.S. stocks skyrocketed on Wednesday after the U.S. President Donald...
The news agency was barred from the press pool over a dispute over how the Gulf of Mexico is named A federal judge has ordered the...
Beijing has slapped 84% duties on US goods in retaliation for Trumps 104% levies on Chinese products China announced on Wednesday...
Food irradiation is a gentle, non-invasive technique that uses radiation to keep food fresh and safe to eat. It eliminates microbes...
Washington DC [US], April 9 (ANI): Defence Secretary Pete Hegseth, during a visit to the Central American country, stated that China's...