The Trump administration has made good on its threats to raise tariff on Chinese imports, imposing a combined 104% duty through a new 50% tariff and existing 34% tax.
The consequential increase took effect at 12:01 a.m. ET on Wednesday, April 9th, 2025 also impacting 184 other United States of America trading partners.
This action rounded off an tense day in U.S. - China relations.
Beijing vowed to "fight to the end" following President Trump's Monday announcement of fresh tariffs, a response to China's initial retaliatory measures. "It was a mistake for China to retaliate," said White House press secretary Karoline Leavitt on Tuesday.
Trump pushing these tariffs have wiped billions of dollars off the market value of major firms and shaken a global trading order that has ploughed on for decades which is now raising fear of recession.
Markets reacted swiftly to the growing uncertainty. U.S. stocks, which had been climbing on optimism sparked by Treasury Secretary Scott Bessent's who is currently pushing for renewed negotiations to reverse the effects since the news was released.
Despite the heightened pressure, Trump expressed confidence that countries are willing to return to the negotiating table. "We're going to get fair deals and good deals with every country, and if we don't, then we're going to have nothing to do with them," he said Monday at the White House. Countries like South Korea and Japan have reported begun negotiations.
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