In a dramatic escalation of trade tensions, China has announced an 84% tariff on all imports from the United States, effective from April 10, 2025, according to the Ministry of Finance of the People’s Republic of China.
The move comes in direct response to the U.S. increasing its own tariffs on Chinese exports from 34% to 84% just a day earlier.
The State Council Tariff Commission, under China’s finance ministry, described the U.S. actions as “unilateralism” and “economic bullying,” accusing Washington of violating international trade rules and undermining global economic stability.
Citing national laws and international principles, China emphasized its legal basis for the retaliation, urging the U.S. to cancel what it called “wrong practices” and return to the negotiation table.
This tariff war marks a new low in U.S.-China trade relations, with both sides now imposing near-prohibitive tariffs on each other’s goods. Global markets reacted swiftly to the news — Bitcoin (BTC), often seen as a hedge against geopolitical turmoil, briefly fell below $76,000.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Bitcoin Magazine Winklevoss Twins Donated $10 Million From Bitcoin Sale to Trump Super PAC Crypto…
Bitcoin Magazine Bitcoin ETFs Take in Nearly $1B in New Money — But What Will…
Bitcoin Magazine VanEck: Bitcoin’s Summer Lull Masks a Tightening Supply Base Bitcoin spent the past…
Bitcoin Magazine Satsuma Shareholders Approve Bitcoin Liquidation, London Delisting Satsuma shareholders have voted to unwind…
Your day-ahead look for July 22, 2026Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
BTC retreated from a one-month high as WTI crude topped $85 for the first time…