According to a New York Post report, China is hitting the U.S. with 84% retaliatory tariffs after President Trump’s sweeping tariffs went into effect on Wednesday.
Beijing announced it would raise its previously announced 34% tariff to match Trump’s levy.
The move comes after Trump’s whopping 104% levy on China went into effect.
China has said it will “fight to the end” in its trade war with the U.S.
“If the US insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end,” the Ministry of Commerce said in a lengthy policy statement.
From The New York Post:
In announcing the move, China said it had added 12 US companies to its export control list and six to its unreliable entities list.
Companies added to the export control list include American Photonics and Novotech.
Exports of dual-use items to these companies will be banned.
Those added to the unreliable entities list, including Shield AI and Sierra Nevada Corporation, will be banned from China-related import and export activities and investing in China.
A defiant Treasury Secretary Scott Bessent quickly fired back, telling Fox Business Network the retaliatory tariffs were a losing proposition for Beijing.
“I think it’s unfortunate that the Chinese actually don’t want to come and negotiate, because they are the worst offenders in the international trading system,” Bessent said.
“They have the most imbalanced economy in the history of the modern world, and I can tell you that this escalation is a loser for them.”
U.S. Treasury Secretary Scott Bessent:
“They are the worst offenders in the international trading system. They have the most imbalanced economy in the history of the modern world and I can tell you that this escalation is a loss for them.
They are the surplus country. Their… pic.twitter.com/J4BGpfjRW7
— Visegrád 24 (@visegrad24) April 9, 2025
Meanwhile, as the trade war escalates, President Trump is encouraging companies to move facilities to the U.S.
“This is a GREAT time to move your COMPANY into the United States of America, like Apple, and so many others, in record numbers, are doing. ZERO TARIFFS, and almost immediate Electrical/Energy hook ups and approvals. No Environmental Delays. DON’T WAIT, DO IT NOW!” Trump posted on TRUTH Social.
This story is developing…
China hits US with 84% retaliatory tariffs after Trump’s sweeping levies go into effect https://t.co/EuyxPIV5UG pic.twitter.com/qVOSnkwaf0
— New York Post (@nypost) April 9, 2025
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