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Topics: US News, World News, Politics, Donald Trump
Lucy Devine
Topics: US News, World News, Politics, Donald Trump
China has retaliated by placing an 84 percent tariff on US goods amid 'bullying' claims against Donald Trump.
The tariff war between the US and China has escalated this week, with Trump threatening to double the tariffs to a staggering total of 104 percent.
Trump initially announced the global tariffs last week in what he branded as 'Liberation Day'.
"We've been waiting for a long time, April 2, 2025, will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to 'Make America Wealthy Again'," he said.
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During the announcement, Trump whipped out a 'Reciprocal Tariffs' chart to the audience, where he revealed exactly what tariffs he planned on rolling out for each given country.
At the time, China was hit with a 54 percent tariff, however Trump has now said he will be upping this by another 50 percent after China vowed to 'fight to the end' and refused to remove its own tariffs - implemented in retaliation - of 34 percent.
Now, China has retaliated once again with an 84 percent tariff on all goods imported from the US.
It comes as foreign ministry spokesperson Lin Jian told reporters that Beijing 'firmly opposes and will never accept such hegemonic and bullying practices'.
The changes will take effect from 10 April.
Following the announcement, European markets, which had already plummeted, have fallen even further.
The tensions between the US and China has led experts to become increasingly concerned, with Deborah Elms, Head of Trade Policy at the Hinrich Foundation in Singapore, telling the BBC: "You can only tariff so much for so long. But there are other ways both countries can hit each other. So you might say it can't possibly get worse, but there are many ways in which it can.
"... How will this end? No-one knows. I'm really concerned about the speed and escalation. The future is much more challenging and the risks are just so high."