China said tariffs on U.S. goods will rise to 84% from 34% starting on April 10.

Summary

China will raise tariffs on U.S. goods to 84% from 34% starting April 10, retaliating against Trump’s 104% tariffs on Chinese imports.

The escalation deepens the U.S.-China trade war, threatening nearly $600 billion in annual trade and rattling global markets.

Treasury Secretary Scott Bessent called China’s move “a loser for them,” but markets reacted sharply: the S&P 500 entered a bear market, and Asian indices plunged.

China signaled no interest in negotiation, taking a hard-line stance as Trump’s trade strategy stokes fears of global recession.