Blueprint Newspapers Limited
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In a dramatic escalation of the ongoing trade war between the U.S. and China, Beijing has announced an unprecedented 84 per cent retaliatory tariff on a range of American imports.
This latest move comes just hours after the U.S., under President Donald Trump’s administration, imposed a staggering 104 per cent tariff on Chinese goods, marking a new phase in the intensifying trade dispute between the world’s two largest economies.
The announcement by China will see tariffs on select U.S. imports rise from 34 per cent to 84 per cent, effective Thursday.
The sharp increase is one of the most aggressive actions taken by Beijing since the trade conflict began and marks a critical juncture in the economic standoff that has already seen both nations impose tariffs on hundreds of billions of dollars’ worth of goods.
Experts warn that this escalation could significantly disrupt global trade, with far-reaching implications for international markets and economic growth.
The response on Wall Street was swift and alarming. U.S. stock index futures plummeted in early trading on Wednesday, with the Dow E-minis falling 1.87 per cent, S&P 500 E-minis dropping 1.72 per cent, and Nasdaq 100 E-minis losing 1.45 per cent.
The declines reflect investor fears about the deepening trade conflict and its potential impact on corporate earnings, global supply chains, and economic stability.
Markets have been on edge for months as the two superpowers have exchanged tariff hikes, but the latest development has raised the stakes significantly.
“The uncertainty surrounding these escalating tariffs is shaking investor confidence, and the risk of a prolonged trade war is becoming more apparent,” said Mark Williams, an economist at Capital Economics.
Economists suggest that the rapid increase in tariffs could exacerbate global inflationary pressures, disrupt manufacturing networks, and further strain international trade relationships.
Blueprint Newspapers is a Nigerian daily print newspaper founded and published in Abuja, Nigeria. While https://blueprint.ng is the online version
Managing Director & CEO: Salisu Umar, [email protected]
Vice Chairman & CEB: Zainab Suleiman Okino, [email protected]
Executive Director-Finance & Accounts: Ajibola Oyetubo
Editorial Director: Clem Oluwole
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Editor (Daily): Abdulrahman A. Abdulrauf, [email protected]
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