China announces retaliatory tariffs on US goods. Bitcoin reacts with losses, falling back to a key level.
April 4, 2025 – China announces 34 percent retaliatory tariffs on US goods
China is escalating its trade dispute with the US. In response to new punitive tariffs imposed by the United States, China has announced retaliatory measures: Starting April 10, all imports from the US will be subject to a 34 percent tariff, as reported by the Reuters news agency. The Chinese Ministry of Finance announced this in Beijing on Friday. US President Donald Trump had already announced on Wednesday that he would impose the same level of punitive tariffs on Chinese goods.
China is considered the world’s largest exporter and supplies more countries with goods than any other nation. China also leads in bilateral trade with the US: With an annual trade volume of over $400 billion, no other country has a comparable trade relationship with the United States.
This development caused considerable unrest on the financial markets on Friday afternoon. The DAX, Germany’s most important stock index, came under severe pressure, temporarily losing as much as five percent. Bitcoin’s price also reacted to the Chinese counter-tariffs with losses, briefly falling below the $82,000 mark. The most important cryptocurrency was last trading at around $82,100. (As of 1:22 p.m.)
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