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CoinDesk 2025-04-09 11:27:31

China Strikes Back With 84% Tariff on U.S. Goods, Bitcoin Dips Below $76,000

China Strikes Back With 84% Tariff on U.S. Goods, Bitcoin Dips Below $76,000

In a dramatic escalation of trade tensions, China has announced an 84% tariff on all imports from the United States, effective from April 10, 2025, according to the Ministry of Finance of the People's Republic of China. The move comes in direct response to the U.S. increasing its own tariffs on Chinese exports from 34% to 84% just a day earlier. The State Council Tariff Commission, under China’s finance ministry, described the U.S. actions as “unilateralism” and “economic bullying,” accusing Washington of violating international trade rules and undermining global economic stability. Citing national laws and international principles, China emphasized its legal basis for the retaliation, urging the U.S. to cancel what it called “wrong practices” and return to the negotiation table. This tariff war marks a new low in U.S.-China trade relations, with both sides now imposing near-prohibitive tariffs on each other’s goods. Global markets reacted swiftly to the news — Bitcoin (BTC), often seen as a hedge against geopolitical turmoil, briefly fell below $76,000. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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