Main Takeaways:-
- China raises tariffs on U.S. imports, affecting worldwide markets and economic partnerships.
- The tariff rate was increased from 34% to a record 84%.
- Possible fluctuation expected in industries dependent on U.S. goods.
On April 9, 2025, China said it would increase the extra tax on goods imported from the U.S. to 84%, starting from April 10, 2025.
The step shows that trade issues between the two countries are still happening, which could affect the businesses and make investors feel uncertain.
China Increases U.S. Import Tariffs from 34% to 84%
China’s State Council Tariff Commission has raised the tax on goods imported from the U.S. from 34% to 84%, making the trade tensions between the two countries more intense. The new tax policies will start from April 10, 2025, and extensively include all U.S.-originating goods. This move is in response to recent U.S. tax hikes on Chinese products, which were disclosed by China’s Ministry of Finance.
The higher taxes are expected to create more trade problems, raising costs for businesses that depend on U.S. products in areas like aerospace, technology, and farming. Experts believe this change will cause major disruptions in worldwide supply chains, as mentioned in the USDA’s statement.
“The new tax is an important step to protect our economic interests and is a reaction to the U.S. being unfair. We encourage the U.S. to discuss and reduce this trade conflict.” — Chinese Leadership.
Consequences for Global Markets and Cryptocurrencies
Did you know? China’s decision to increase the tax to 84% is similar to the actions it took in 2018, showing a consistent method in how it deals with economic conflicts.
As of April 9th, 2025, Bitcoin (BTC), trading at $76,065.95, displays significant instability with an available inventory of 19,848,818 BTC. According to CoinMarketCap, the total market value is currently at $1.51 trillion. At the same time, cryptocurrency has observed a 3.7% price drop in the last 24 hours.
Read also:- Top 5 Real World Asset (RWA) Altcoins to Keep an Eye on in April 2025
Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.
