The White House imposes a cumulative 104% tariff on China
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On April 9, 2025 (Tuesday Eastern Time), White House Press Secretary Caroline Levitt announced thatStarting from 12:01 a.m. local time on Wednesday (April 10), the United States will impose an additional 50% tariff on all Chinese imported goods, with a total of 104% tariff this year.
This additional bid includes three parts:
• 34% “reciprocal tariffs” announced on April 3;
• 20% tariffs that have been effective;
• 50% tariff added on April 9.
• Combined with the 25% tariff and basic fee rate since 2018, the actual tariff rate for goods to China will reach "basic fee rate 129%" after April 10.
China's countermeasures
• In response to the 34% tariff imposed by the US on April 3, China announced on the same day that it would impose a 34% tariff on goods imported from the US.
• Faced with further threats from the US, the Chinese Foreign Ministry made it clear: "Do not accept any pressure or threats and will resolutely take necessary measures to safeguard legitimate rights and interests."
Domestic reactions in the United States
Market fluctuations
After the news was announced, the three major U.S. stock indexes turned from rising to falling, and the Nasdaq index closed down more than 2%.
Political differences
• Republican Senator Tillis questioned the effectiveness of the tariffs and concerns aroused voter dissatisfaction;
• Democratic Senator Wyden criticized Trump’s policy for making the U.S. economy a “international laughing stock”;
• Members of the two parties in the House jointly proposed the Trade Review Act 2025, which plans to limit the president's tariff rights.
Corporate protest
• Tesla CEO Musk publicly criticized White House trade adviser Navarro, calling his policies “stupid” and calling for the lifting of tariffs;
• Reeves, founder of the University of Chicago and other corporate and academic representatives criticized that tariffs would harm the interests of the middle class, leading to delays in IPOs and rising consumer prices.
International News
• The EU and China are exploring the establishment of a "trade transfer mechanism" to deal with the global supply chain chaos caused by U.S. tariffs.
Event Focus
• The Trump administration’s attitude towards tariffs is divided, and Musk’s open dispute with Navarro is seen as a microcosm of policy chaos;
• Analysts believe that the tariff escalation may intensify the Sino-US trade war and further impact the global supply chain and inflation levels.
