IPL 2025 Live Report: GT Aims to Reclaim Top Spot
April 29, 2025
BREAKING: China Hits Back With 84% Tariffs on U.S. Goods
Effective: April 10, 2025
Source: China’s Office of the Tariff Commission of the State Council
Background & Escalation:
-
Trump administration recently raised tariffs on Chinese goods to 104% (as of April 9).
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China responds with its own tariff hike: from 34% to 84% on U.S. imports.
Economic Fallout:
-
Trade tensions threaten to cripple trade between the world’s top two economies.
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U.S. Exports to China (2024): $143.5B
-
U.S. Imports from China (2024): $438.9B
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Global markets tumble:
-
S&P 500: Down 20% → Bear Market
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Kospi (South Korea): Also in bear territory
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Shanghai & Hong Kong: Stocks plunge since April 2
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U.S. Treasury Secretary Scott Bessent:
“This escalation is a loser for them.”
Context:
-
Part of Trump’s broader strategy involving previous tariffs on China, Canada, and Mexico, initially tied to combating fentanyl imports.
-
Other countries like Japan are seeking to negotiate — China is digging in.
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