China Slaps U.S. w/ 84% Tariffs Amid Trade War w/ Trump

China Slaps U.S. w/ 84% Tariffs Amid Trade War w/ Trump

China is hitting back.

Starting April 10, China is raising tariffs on U.S. goods from 34% to 84%, after Donald Trump boosted tariffs on Chinese imports to 104%. The move, confirmed by China’s Office of the Tariff Commission, is the latest in a growing trade war between the two countries.

U.S. Treasury Secretary Scott Bessent told Fox Business,

“It’s unfortunate that the Chinese actually don’t want to come and negotiate… this escalation is a loser for them.”

The fallout is already rattling markets as the S&P 500 is down nearly 20%.

 

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VIA: CNBC