China Slaps 125% Tariffs on U.S. Goods as Trade Tensions Shake Global Markets
Tensions between the U.S. and China have escalated sharply, with Beijing raising tariffs on American products to a staggering 125%.
This follows Washington’s earlier move to hike duties on Chinese imports to 145%, fueling concerns that the trade standoff is far from over.
In a striking response, China signaled it may no longer acknowledge future U.S. tariffs, dismissing them outright. This development highlights the growing strain as the world’s second-largest economy, and America’s main supplier, faces mounting economic pressure from the Biden administration.
China’s Tariff Commission, through a statement released by the finance ministry, strongly criticized the U.S. actions, calling the tariffs “a blatant breach of international trade norms” and labeling the measures as economic coercion. The revised tariffs are set to be enforced starting Saturday.
READ MORE: Bitcoin Poised for Growth, Says Bitwise CIO, Despite Tariff Impact
Shortly before the announcement, Chinese President Xi Jinping urged European leaders to align with China in rejecting what he termed “unilateral pressure tactics.” He emphasized that both China and Europe have a duty to defend global stability and stand up against such practices.
Meanwhile, German Finance Minister Joerg Kukies noted that the EU still has time to secure a deal with the U.S., but warned that alternative measures may be considered if negotiations fail to deliver equitable outcomes.
Market Reactions Show Signs of Strain
Investor confidence has taken a hit, with digital assets and traditional markets reacting to the developments. Bitcoin held steady around $81,537, but Ethereum slipped by over 2% to $1,549.
U.S. stock futures reflected the turbulence. After initially gaining 400 points, Dow futures began to swing unpredictably, while S&P 500 and Nasdaq futures also faced headwinds, struggling to stay in the green.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
