China’s counter-duties on US products are violent
China defends herself in the trade conflict triggered by US President Donald Trump. The Ministry of Finance in Beijing announced that an additional custom of 34 percent is now also being charged to all US goods.
These counter -tariffs should come into force on April 10th. In addition, Beijing has put eleven US companies on a black list, which makes it impossible for this impossible to continue trading in China or with Chinese companies. With the countermeasures of China, Trump’s conflict is additionally fueled, and concerns about the global economy are growing.
Trump announced an unprecedented customs package on Wednesday with additional taxes for imports from the rest of the world – in fact a declaration of war on trading partners all over the world. After the United States, China is the second largest economy in the world and, as an export world champion, delivers as many products around the world as no other country. Germany is also heavily dependent on exports and benefits from open markets. The EU Commission also prepared countermeasures.
Financial markets and oil prices on a descent
The financial markets worldwide reacted to the escalation with further price losses. The price slide continued on the German stock market after the customs shock. The leading index Dax noticeably expanded its already significant losses and stood a good four percent lower in the afternoon.
Faith on the American side, now everyone would buckle and beg after deals, is a misconception.
Antonin Finkenburg
General Managing Director of the German Association for Foreign Trade
The Dow Jones Industrial dropped by another 2.5 percent in early trade. The previous day, the world’s best -known stock index fell by four percent. The most lost stock market has been threatened since October 2020.
« The belief on the American side, now everyone would buckle and begging after deals, is a misconception, » says Antonin Finkelnburg, managing director of the German Association for Foreign Trade. « We are now at the beginning of a global conflict of trade that escalates, which will lead to further stages and which places the global economy into a massive crisis. »
China exports significantly more to the USA
Exports are an important support for the economy of the People’s Republic. In total, China’s exports had recovered in 2024 and made a leap shortly before Donald Trump’s swearing-in as the new US president. The surplus of trade rose to a record high of just under a trillion US dollar.
In 2024, according to government statements in Washington, the United States introduced China worth almost $ 439 billion (EUR 398 billion) – an increase of 2.8 percent for the previous year. In the opposite direction, US goods exports to China were $ 143.5 billion, 2.9 percent less than 2023. The US trade deficit with the People’s Republic was the bottom line to more than $ 295 billion, which corresponded to an increase of $ 5.8 percent. This deficit has been a nuisance for years.
Beijing condemns the tariffs as « harassment », which are not in line with international trade rules and « seriously undermine China’s legitimate rights and interests », says a statement by the customs commission of the Chinese State Council.
Trump had given the prospect of China in the tariffs and referred to the dispute over the Kurzvideo app TIKTOK. According to a US law, Tikok would have had to be sold by the owner of China by January 19 – or left the network in the USA. But Trump admitted a grace period that runs on April 5.
« We have a situation with Tikkok, in which China will probably say: we will agree with a deal, but will they do something about the tariffs? » Said Trump recently.
