9 Apr 2025

China and USA Escalate Tariffs Against Each Other

by Bonnie | | 0

Tariffs between the USA and China escalated during the day. Last week Donald Trump raised 20% tariffs to 54% against China, to which China responded with 34% tariffs. Trump raised his tariffs to 104%. China responded with 84%. Trump escalated to 125%, which media outlets only realized later was 125% plus 20% ostensibly related to fentanyl coming into the USA illegally, so the final tariff against China was actually 145%.

China vowed to “fight to the end.” The country set new restrictions on doing business with eleven American companies, barring sales to them of anything with potential military use. It also brought to the World Trade Organization a fresh challenge to tariffs imposed by the USA.

In 2024, China was the third largest exporter to the USA behind Mexico and Canada.

Separately, Trump extended the deadline for TikTok to be sold from its Chinese owners to American owners. This did not look like an olive branch. It looked like dangling over trade negotiations the proposed ban of TikTok unless it is transferred to American hands.

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