Beijing Responds With Steep 84% Tariff; Bitcoin Drops Below $76,000

China Retaliates With 84% Tariff on U.S. Goods as Trade Standoff Deepens

China has fired back at the United States with a sweeping 84% tariff on American imports, intensifying an already heated trade dispute and sending shockwaves through financial markets. The retaliatory measure, announced by China’s Ministry of Finance, will take effect on April 10, 2025.

This latest move mirrors Washington’s decision just a day earlier to raise tariffs on Chinese exports from 34% to 84%, a dramatic escalation in a tit-for-tat trade battle that shows no signs of easing.

China’s State Council Tariff Commission sharply criticized the U.S. action, labeling it “unilateral” and “disruptive to the global economy.” The commission accused the U.S. of flouting international trade laws and warned that such aggressive policies threaten broader global stability.

Beijing defended its response as grounded in both domestic legal authority and international norms. Officials called on Washington to reverse course and return to dialogue, urging the U.S. to abandon what it termed “harmful practices” that could trigger wider economic fallout.

With both nations now imposing sky-high tariffs on each other’s goods, global investors are bracing for prolonged tension between the world’s two largest economies. Markets reacted swiftly to the news—Bitcoin (BTC), often considered a barometer for geopolitical risk, fell sharply and briefly dipped below $76,000.

This latest escalation raises fresh concerns about supply chain disruptions, global inflation, and the possibility of further policy shifts from central banks as they navigate mounting economic uncertainty.