Washington: The global trade landscape faces renewed strain as the United States has imposed a 104% tariff on Chinese imports, escalating its trade conflict with Beijing. The move comes in retaliation to China’s announcement last week of a 34% retaliatory tariff on American goods, and signals the Trump administration’s uncompromising stance against what it describes as unfair trade practices.
The new US tariffs came into effect overnight, just days before scheduled talks with key trading partners, including South Korea, Japan, and Italian Prime Minister Giorgia Meloni. The timing of the decision underlines Donald Trump’s intent to maintain a hardline approach towards China, even while negotiating with other allies.
The White House has confirmed that President Trump has instructed his team to engage in trade negotiations with around 70 countries, although notably, China is not among them. Officials clarified that the administration seeks to establish “fair and reciprocal” trade terms but will not compromise with Beijing.
China, describing the new US tariffs as “economic blackmail,” has vowed to retaliate further, stating it will not succumb to pressure and is prepared to “fight to the end.” In response, Chinese authorities are reportedly exploring new overseas manufacturing facilities to mitigate the impact of the trade war.
The fallout is already being reflected in economic forecasts. Citi has revised its 2025 GDP growth projection for China downward from 4.7% to 4.2%, citing the growing risks associated with escalating trade tensions and potential disruptions to global supply chains.
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