China hits back at Donald Trump with 84% retaliatory tariff on US goods

In the midst of the ongoing trade war between the United States and China, Beijing responded to Donald Trump's 104% tariffs on all American imports on Wednesday by imposing further taxes of 84%, up from 34% previously. The Chinese finance ministry announced that these new tariffs will be applied on US-sourced commodities starting on April 10. A 34% retaliatory levy on American imports was previously announced by Beijing.

Additionally, China's commerce ministry declared that it has placed six US companies on its list of "unreliable entities" and put 12 US companies to its export control list. The US market index futures also allegedly fell precipitously shortly after the announcement. The White House press secretary stated that the additional charge will be collected starting on Wednesday, April 9, just one day after Trump levied a 104% tariff on China.

Trump took this action after China retaliated against his reciprocal tariffs. The president stated on Tuesday that he was awaiting a reaction from China before imposing taxes that were higher than 100%.