🔥 Tariff Tussle Escalates! China Hits Back at US with 125% Duties 💥📉
- MediaFx
- 1 day ago
- 2 min read
TL;DR 🧾
China has ramped up tariffs on US goods to a whopping 125%, retaliating against President Trump's earlier hike to 145% on Chinese imports. Beijing labels the US move as "a joke," signaling no further responses to additional US tariff increases. This tit-for-tat escalation threatens global trade stability, with potential ripple effects on economies worldwide.
🥊 Trade War Intensifies: China Strikes Back!
In a bold move, China announced on April 11, 2025, that it would increase tariffs on US imports to 125%, up from the previous 84%. This decision comes in direct response to President Donald Trump's recent escalation, where he raised tariffs on Chinese goods to 145% . Beijing's Finance Ministry didn't mince words, calling the US's tariff strategy "a joke" and "unilateral bullying and coercion."
The Chinese government emphasized that further US tariff hikes would be economically meaningless and would only tarnish the US's reputation in global trade history. They stated, "Even if the U.S. continues to impose even higher tariffs, it would no longer have any economic significance and would go down as a joke in the history of world economics."
📉 Economic Shockwaves: Markets React
The escalating tariff war has sent shockwaves through global markets. The US dollar has plummeted to a decade-low against the Swiss franc, and the euro has surged past $1.14. Investors are fleeing US assets, leading to a significant selloff in stocks and Treasuries .
Oil prices are also feeling the heat, with Brent and WTI benchmarks poised for weekly declines of nearly 3% and 2.5%, respectively. The US Energy Information Administration has lowered its global economic growth and oil demand forecasts, citing the trade war as a significant factor.
🧠 MediaFx Perspective: A Marxist Lens
From a working-class, Marxist viewpoint, this escalating trade war underscores the perils of capitalist competition and protectionism. The tit-for-tat tariffs serve the interests of ruling elites, while ordinary workers bear the brunt through job losses, inflation, and economic instability.
Instead of fostering international solidarity and cooperation, these actions deepen divisions and exacerbate global inequalities. It's imperative for labor movements and progressive forces worldwide to unite against such economic nationalism and advocate for a fairer, more equitable global trade system.
💬 Join the Conversation!
What are your thoughts on this escalating trade war? How do you think it will impact everyday lives, especially in developing countries? Share your opinions in the comments below! 👇
