China has reportedly announced a significant escalation in its trade dispute with the United States, declaring a 34% retaliatory tariff on all U.S. goods.
This move, set to take effect on 10th April 2025 and comes in response to the sweeping tariffs imposed by President Donald Trump’s administration earlier this week.
The Chinese Ministry of Finance reportedly stated that these measures are aimed at safeguarding China’s economic interests and countering what it describes as ‘unilateral bullying’ by the U.S. government.
The tariffs will apply across a wide range of American exports, potentially impacting industries such as agriculture, technology, and manufacturing.
This development has heightened global market uncertainty, with investors bracing for further economic disruptions.
The ongoing tit-for-tat measures between the two economic giants underscore the fragility of international trade relations in the current climate.
Markets dropped on the news!