Beijing responded to the increase of US tariffs on Chinese goods to 104% by implementing a similar measure. As President Donald Trump’s new tariff takes effect today, the Chinese Ministry of Finance issued a statement regarding the matter. The Ministry announced an additional tariff of 84% would be imposed on US goods. This rate was previously stated as 34% in a prior Chinese announcement. The Ministry stated that the extra tariff on American goods would be enforced starting on April 10. In a separate statement directed at the World Trade Organization (WTO), China warned that the US tariff retaliation would “further threaten global trade.” China’s WTO mission indicated in a statement sent to the WTO today, noted by Reuters, that the situation was “escalating dangerously.” The mission highlighted China as one of the parties affected by the situation, emphasizing Beijing’s “great concern” and strong opposition to this “reckless move.” The US Imposes 104% Tariff on China The US raised its tariff rate on China to 104% starting today. The White House announced that in response to China not lifting its retaliatory tariffs within the given timeframe, a 104% tariff rate would be enforced starting from April 9. China had declared it would respond to the US’s 34% tariffs with an equivalent rate. Trump had threatened to impose an additional 50% tariff if China did not back down from this retaliation. Chinese Premier Li Qiang stated that they had sufficient means to combat the US tariffs. Qiang maintained optimism regarding growth figures for 2025 and reiterated China’s commitment to international trade rules. Trump: “We’re Making $2 Billion a Day” During a program at the White House involving coal miners, Trump claimed, “You often hear about those tariffs, right? Well, we’re making nearly 2 billion dollars almost every day thanks to those tariffs. Yes, 2 billion dollars daily, and our businesses are doing very well, really well.”