A new wave of import duties imposed by the United States went into force early Wednesday, impacting trade relationships across several nations. These levies include a significant 104% tariff on products originating from China.
Building upon earlier measures enacted over the weekend—a widespread 10% tariff that has already destabilized the international economic landscape—tariffs on imports from key trading partners like the European Union and Japan were also raised at midnight ET (5am UK time).
While numerous countries face increased costs, China is experiencing the most substantial impact. In response to Washington’s actions, Beijing has demonstrated unwavering resolve.
“We will continue this trade war to the very end,”
a spokesperson stated, emphasizing their commitment to safeguarding national economic interests.
As a direct countermeasure, China announced retaliatory tariffs of up to 34% on American goods, scheduled to come into effect Thursday.
- Key Impacts:
- 104% tariff on Chinese goods
- Increased tariffs on imports from the EU and Japan
- 34% retaliatory tariffs from China on US goods (effective Thursday)
Further developments are anticipated.
