• China retaliates with a 34% tariff on U.S. goods, following U.S. tariffs of up to 104%, intensifying the trade conflict.
• Beijing warns tariffs could harm global markets, worsen inflation, and urges the U.S. to lift unilateral trade barriers for meaningful dialogue.
• Disputes over the Phase 1 trade deal remain unresolved, with both sides blaming missed targets on external factors like the COVID-19 pandemic.

China’s foreign ministry reaffirmed its commitment to protect national interests after net tariffs of 104% on Chinese imports into the U.S. came into force. Addressing the issue at a press briefing, Lin Jian, spokesperson for the ministry, urged the U.S. to approach negotiations with “equality, respect, and mutual benefit.” However, Lin emphasized that if the U.S. continues to escalate the tariff conflict, Beijing will “fight to the end.”

China increases tariffs in retaliation

Last Friday, China’s Finance Ministry announced an additional 34% tariff on all U.S. goods starting April 10. This move retaliates against the 34% levies imposed by President Donald Trump, following earlier rounds of 10%-15% tariffs targeting agricultural and energy products. Experts, like Dan Wang from Eurasia Group, warn these measures could eliminate Chinese exporters’ profits once U.S. tariffs surpass 35%, effectively halting their sales to the U.S.

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Economic and trade repercussions

In an official white paper, China described the tariffs as “economic bullying” and warned that higher duties could destabilize financial markets, worsen inflation, and harm both U.S. businesses and consumers. The paper argued that tariffs fail to address trade imbalances and called for lifting unilateral trade barriers. Meanwhile, Beijing stated its readiness to enhance dialogue and cooperation if Washington reciprocates.

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Phase 1 trade deal disputes

China claims it met its obligations under the Phase 1 trade agreement, requiring $200 billion in U.S. goods purchases over two years. However, the COVID-19 pandemic hindered targets, while Beijing alleges the U.S. violated aspects of the deal. The White House has yet to respond to these claims.

What’s next?

The ongoing trade war highlights broader tensions in U.S.-China relations. Policymakers, business leaders, and analysts alike must weigh the long-term implications of escalating these conflicts. Will these measures lead to better trade practices or further strain global markets?

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