WASHINGTON D.C. — Global trade tensions escalated Wednesday as both China and the European Union announced retaliatory tariffs in response to newly enacted U.S. trade measures.
China, the world’s second-largest economy, confirmed it will significantly increase tariffs on U.S. imports. The new rates raise duties from 34% to 84% on various goods, with some items from the United States now facing a combined total tariff rate of 104%.
The response from Beijing came just hours after the Trump administration enacted a new round of sweeping global tariffs, reinforcing the protectionist trade approach it has followed since 2018. Though the White House has expressed concern over unfair trade practices, the response has been swift from major U.S. trade partners.
In Europe, the European Union announced that it would move forward with its own retaliatory duties, aimed at offsetting the impact of U.S. tariffs on steel and aluminum. The EU’s new measures, approved by officials this week, will target over $24 billion worth of U.S. goods and are set to take effect on April 15.
The European Commission said the duties will range from 10% to 25% and apply to a wide variety of American products, including steel, aluminum, motorcycles, poultry, and tobacco.
While the new tariffs have drawn criticism from several governments, some countries are using the moment to reopen trade talks. Japan and South Korea, for example, have taken steps toward negotiating updated trade agreements with the United States.