China Responds to US Actions by Imposing 84% Tariff on American Goods as Bitcoin Slips Below $76,000
Beijing is responding to Washington's sharp tariff hikes with equal force, exacerbating trade tensions and roiling global financial markets.
James Van Straten, AI Boost | Edited by Parikshit Mishra Updated April 9, 2025, 12:46 PM Published April 9, 2025, 11:27 AM
What is important to know:
- China is increasing tariffs on all US imports from 34% to 84% in response to recent US actions.
- Bitcoin falls below $76,000 as markets react to threat of protracted trade conflict.
According to the Ministry of Finance of the People's Republic of China, in connection with the sharp escalation of trade tensions, China announced the introduction of an 84% tariff on all imports from the United States, which will take effect on April 10, 2025.
The move came in direct response to the US's recent increase in tariffs on Chinese exports from 34% to 84%.
The State Council Tariff Commission under China's Ministry of Finance described the US actions as “unilateral” and “economic bullying,” accusing Washington of violating international trade norms and undermining global economic stability.
Citing its national laws and international principles, China stressed the legal basis for its retaliatory measures, calling on the US to reverse what it called its “wrong practices” and return to negotiations.
The tariff war marks a new high in trade relations between the US and China, with both sides now imposing near-prohibitive duties on each other’s goods. Global markets have been quick to react, with Bitcoin (BTC), often seen as a hedge against geopolitical turmoil, briefly falling below $76,000.
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