China has reaffirmed its stance to “fight to the end” against the trade war initiated by US President Donald Trump by increasing tariffs on US products to 84%, up from the previously announced 34%. This move comes as new tariffs of 104% on Chinese imports took effect on Wednesday, April 9.
In response, China announced that it will raise its tariffs on US goods to 84% starting April 10. The Chinese government also released a white paper on US-China trade relations, stating that Beijing does not intentionally seek a trade surplus. However, it warned that if the US continues to escalate economic and trade restrictions, China will use all necessary countermeasures and fight to the end.
In a separate statement, China’s Ministry of Commerce cautioned Washington that there are no winners in a trade war. The ministry emphasized that while China does not want a trade conflict, it will not allow the legitimate rights and interests of the Chinese people to be harmed. It also accused Trump of using tariffs as a tool for “selfish gains,” labeling the strategy as “unilateralism, protectionism, and economic bullying.”
Additionally, China imposed restrictions on 18 US companies, mostly in defense-related industries, adding to the list of around 60 US firms that have already faced punishment due to Trump’s tariffs. Despite the escalating tensions, the Chinese government stated that the two countries could still resolve their differences through dialogue and mutually beneficial cooperation.
In response to Trump’s new tariff policy, the European Union imposed its first retaliatory tariffs last week, after the US placed 25% tariffs on EU steel and aluminum exports. These new EU tariffs will target US goods worth about $23 billion, including products like soybeans, diamonds, and poultry.
Zhiwei Zhang, Chief Economist at Pinpoint Asset Management, noted that China has sent a “clear signal” that it intends to maintain its position despite the higher US tariffs. He predicted that the ongoing trade conflict will lead to visible damage to both economies, and the outlook for global trade and economic growth remains uncertain.