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China Punches Back as Trump's Tariffs Shake Markets, Announces Tit-for-Tat
The Morning Standard
|April 05, 2025
Announces 34% levy on all American imports beginning April 10
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Countries and industries were scrambling Friday to respond as President Donald Trump's latest tariffs hikes upend global trade and markets across the world.
China took the toughest approach so far, responding to the 34% tariff imposed by the US on imports from China by matching it with a 34% tariff on imports of all US products beginning April 10.
Trump was swift to criticize Beijing's move. "China played it wrong, they panicked—the one thing they cannot afford to do," he wrote in a social media post, adding: "My policies will never change. This is a great time to get rich."
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