China Responds to U.S. Tariff Surge With 84% Import Tax, Bitcoin Slides
China has unveiled a sweeping 84% tariff on all imports from the United States, a retaliatory measure that further escalates the intensifying trade conflict between Washington and Beijing. The new duties are set to take effect on April 10, according to an official release from China’s Ministry of Finance.
The announcement follows the U.S.’s own move just one day earlier to raise tariffs on Chinese goods from 34% to 84%, a decision that drew immediate criticism from Chinese authorities. In a strongly worded statement, the State Council Tariff Commission accused the U.S. of “unilateralism” and warned that such policies threaten global economic stability.
Beijing justified the tariffs as compliant with both domestic law and international trade standards. Officials called on Washington to reverse its course and resume dialogue, while stressing China’s right to defend its economic interests.
The tit-for-tat tariffs now place a massive barrier between two of the world’s largest trading partners, compounding concerns about global supply chains, inflation, and financial volatility.
Markets reacted swiftly. Bitcoin (BTC), often seen as a gauge of geopolitical risk appetite, fell sharply on the news—briefly dipping below $76,000 as investor uncertainty deepened.
This latest volley in the trade war underscores the growing risks of economic fragmentation and the potential for broader market dislocation if tensions continue unchecked.
