China Fires Back at U.S. in Escalating Trade War

China's announcement matches the U.S. move, eye for eye.

On April 2, Trump's so-called "liberation day," the United States slapped 34 percent tariffs on Chinese goods, on top of the 20 percent duties already imposed over the past two months and preexisting tariffs. In total, the back-to-back hits will bring the average tariff rate on Chinese imports up to 76 percent, according to Chad Bown , an international trade expert at the Peterson Institute for International Economics. That number goes beyond the 60 percent tariffs that Trump threatened to impose on China during his election campaign.



China is the first major country to strike back at the United States with counter-tariffs in response to the global trade war that U.S. President Donald Trump launched this week.

The Chinese Ministry of Finance announced on April 4 that Beijing will levy 34 percent tariffs on all U.S. imports, on top of existing tariffs.

The new measures will go into effect on April 10, a day after Trump's "retaliatory tariffs" on China and other U.S. trading partners are scheduled to begin.

China is the first major country to strike back at the United States with counter-tariffs in response to the global trade war that U.S. President Donald Trump launched this week.

The Chinese Ministry of Finance announced on April 4 that Beijing will levy 34 percent tariffs on all U.S. imports, on top of existing tariffs.

The new measures will go into effect on April 10, a day after Trump's "retaliatory tariffs" on China and other U.S. trading partners are scheduled to begin.

China's announcement matches the U.S. move, eye for eye.

On April 2, Trump's so-called "liberation day," the United States slapped 34 percent tariffs on Chinese goods, on top of the 20 percent duties already imposed over the past two months and preexisting tariffs. In total, the back-to-back hits will bring the average tariff rate on Chinese imports up to 76 percent, according to Chad Bown, an international trade expert at the..

. Lili Pike , Christina Lu , Lili Pike , Christina Lu.