April 9, 2025 7:40 PM

China retaliates as Trump trade tariffs kick in

China will impose 84% tariffs on U.S. goods from Thursday, up from the 34% previously announced, its finance ministry said on Wednesday, firing the latest salvo in a global trade war sparked by U.S. President Donald Trump. Trump's "reciprocal" tariffs on dozens of countries took effect earlier on Wednesday, including massive 104% duties on Chinese goods. The European Union is also preparing its own retaliatory measures for later on Wednesday. Trump's punishing tariffs - which he says aim to en...