![China-US trade war gains momentum after Beijing’s decision to impose 34 percent tariffs on US goods [World News]](https://foodcom.pl/wp-content/uploads/2025/03/News-world_22-3-1520x760.png "China-US trade war gains momentum after Beijing’s decision to impose 34 percent tariffs on US goods [World News]")
- China introduces 34% tariffs on US goods in response to earlier decisions by the Trump administration.
- Beijing announces additional measures, including export controls on rare earths and a ‘blacklist’ of US companies.
- Stock markets react with declines, and global recession forecasts rise to 60%.
- Europe faces the challenge of redefining its role in the destabilising global trade.
China responds with tariffs – a new chapter in the trade war with the US
on 10 April 2025, new 34 per cent tariffs on all goods imported from the United States will come into force, the Chinese government announced on Friday. This is the toughest step so far in response to recent decisions by the Donald Trump administration to impose further tariffs on products from China. However, Beijing did not just limit itself to tariff measures – it also announced controls on rare earth exports and the inclusion of 11 US companies on a ‘blacklist’ of entities deemed unreliable.
The complaint filed with the World Trade Organisation (WTO) further raises the temperature of the conflict. The new escalation of tensions between Washington and Beijing is increasing uncertainty in global trade and affecting the decisions of companies around the world – from industry to the technology sector.
Stock markets are reacting with declines and global trade is entering a phase of uncertainty
The reaction of the financial markets was immediate. More than $2.4 trillion evaporated from the US stock markets in a single day, and forecasts of the risk of a global recession rose to 60%. Shares of technology giants such as Apple and Nvidia were particularly hard hit. Many manufacturers have already begun to adjust their strategies, looking at new export destinations and considering moving some production outside China and the US.
Although Europe is not directly involved in the conflict, it is not immune to its effects either. Disruption to global supply chains and increasing geopolitical instability could affect European companies and consumers. In the longer term, this is a moment for the European Union to redefine its role as a potential stabiliser in an increasingly polarised global trade landscape.
