China Matches U.S. Tariff Hike With 84% Levy, Market Jitters Follow

China has announced an 84% tariff on all U.S. imports, a sharp retaliatory move that further inflames tensions between the two economic superpowers. The tariffs, set to take effect April 10, come just 24 hours after the U.S. raised its own tariffs on Chinese exports from 34% to 84%.

The announcement, made by China’s Ministry of Finance, signals a hardening of Beijing’s stance as trade relations between the two nations hit a fresh low. In a statement, the State Council Tariff Commission condemned the U.S. action as “economic coercion” and a breach of international trade principles.

Calling the U.S. measures “unilateral and damaging to global economic order,” Chinese officials emphasized that their response was legally justified under both domestic and international frameworks. Beijing urged Washington to reverse course and resume negotiations, warning that continued escalation would have severe global consequences.

The impact was immediate across financial markets. Bitcoin (BTC), which often reacts to geopolitical risk, fell sharply—briefly trading below $76,000 as investors weighed the growing uncertainty.

With near-prohibitive tariffs now in place on both sides, trade between the U.S. and China faces severe disruption, and fears of broader economic fallout are rising.