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Trump Doubles Tariffs on Chinese Goods, Escalating Trade Tensions

The U.S. announces additional 10% tariffs on Chinese imports, prompting Beijing to vow retaliation and heightening global trade uncertainty.

Shipping containers are seen at the Atlantic Hub container terminal in Halifax on Monday, February 3, 2025. THE CANADIAN PRESS/Darren Calabrese
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Overview

  • President Donald Trump has announced a new 10% tariff hike on all Chinese imports, effective March 4, doubling the existing levy imposed earlier this month.
  • The tariff increase comes as part of the U.S.'s response to China's alleged role in the fentanyl trade, which has contributed to a public health crisis in the U.S.
  • China's Ministry of Commerce condemned the move, pledging to take 'all necessary countermeasures' while accusing the U.S. of disrupting global supply chains.
  • The escalating trade measures are expected to weigh heavily on China's economy, with analysts predicting a potential GDP reduction of 0.4-0.8 percentage points in 2025.
  • Trump has also threatened new tariffs on imports from Canada, Mexico, and the EU, while signaling interest in a trade deal with the UK following talks with Prime Minister Keir Starmer.