The United States imposed a 104% tariff on China effective April 9, as the Trump administration launches negotiations for multilateral trade agreements.

Taiwan • Business • 04/08 23:36
The United States imposed a 104% tariff on China effective April 9, as the Trump administration launches negotiations for multilateral trade agreements.

On April 9, 2025, the total tariffs imposed by the United States on imports from China reached 104%, as ordered by President Trump in response to China's refusal to withdraw its 34% retaliatory tariffs. White House spokesperson Li Weit called this a "strong counterattack." Meanwhile, the Trump administration has initiated negotiations for "tailored" trade agreements with nearly 70 countries, with delegations from Japan and South Korea already in the U.S. for talks.

Key Updates

04/09 03:38

The intensification of the US-China trade war has caused global stock market volatility: the Nikkei plummeted 1,300 points, Taiwan's stock index fell below 18,000, and US stocks ended the day in the red across the board.

On April 9, 2025, President Trump of the United States imposed a 104% tariff on Chinese goods, and China retaliated with a 34% tariff, escalating the trade tensions and causing turmoil in global stock markets. The Nikkei index plummeted 1,304 points, the South Korean KOSPI index hit a six-month low, Taiwan's stock market dropped below 18,000 points, and TSMC's stock price experienced volatility. All four major U.S. stock indices closed lower, with the S&P 500 falling below 5,000 points. Global markets are facing systemic pressure due to tariff policies.

04/09 02:09

President Trump of the United States levied a 104% tariff on Chinese imports, sparking global market turmoil: U.S. stock markets declined, Apple shares plummeted, and Asian stock markets slipped into a bear market.

On April 9, 2025, President Trump of the United States levied a 104% tariff on Chinese products, further escalating the U.S.-China trade war and leading to global market upheaval. U.S. stocks fell for four straight days, as the S&P 500 index fell below 5,000 points, with Apple's stock price experiencing a cumulative 23% drop. Asian markets were also impacted, with the Kospi index in South Korea entering a bear market and the Nikkei 225 index in Japan plunging more than 1,100 points. The global supply chain faced pressure to restructure, leading companies to adjust their production and logistics strategies. The expansion of production capacity for China's C919 aircraft became a focal point as an alternative in the aviation industry.

04/09 02:09

Trump's New 2025 Tariff Policy Sparks Global Economic Shockwaves: U.S. Hoarding Surge, Asian Exports Suffer, Wall Street Stock Market Plummets

On April 9, 2025, U.S. President Donald Trump initiated the "Reciprocal Tariff" policy, which imposed tariffs ranging from 20% to 50% on 60 countries, including Taiwan, Vietnam, China, and the EU, which caused global market turmoil. American consumers started stockpiling goods, Asian exporting countries suffered significant impacts, and Wall Street experienced a significant downturn. Former U.S. Treasury Secretary Lawrence Summers warned that this policy might lead to an economic recession and urged for its withdrawal. Vietnam proposed allowing duty-free imports of American goods to alleviate the situation.

04/09 01:08

The US's imposition of a 104% tariff on China has led to global market fluctuations, and TSMC is facing heavy penalties due to the Huawei chip investigation.

On April 9, 2025, the United States imposed a 104% tariff on Chinese goods, escalating the US-China trade war and causing global market fluctuations. Chinese A-shares and Hong Kong stocks rebounded due to support from Chinese government funds, while US stocks fell after initially rising at the opening. TSMC is being investigated by the US Department of Commerce for allegedly allowing its chips to be used in Huawei products and may face fines exceeding $1 billion.

04/09 01:08

Trump's signing of the executive order on reciprocal tariffs sparks global market turmoil: U.S. stocks plummet, Nikkei tumbles, and Korean stocks experience slight fluctuations.

On April 8, 2025, President Trump of the United States signed an executive order imposing steep tariffs on China and other trade partners, leading to upheaval in global financial markets. The three major U.S. stock indices reversed from gains to losses, with the Dow Jones Industrial Average swinging over 2,300 points during the session and ending the day down more than 300 points. The Nikkei 225 Index plunged over 1,100 points at the open, a drop of more than 3%, while the South Korean stock market edged up by 0.11%. Fears of an escalating U.S.-China trade war grew, and experts warned that the global trade order is under threat.

04/08 23:36

The United States imposed a 104% tariff on China effective April 9, as the Trump administration launches negotiations for multilateral trade agreements.

On April 9, 2025, the total tariffs imposed by the United States on imports from China reached 104%, as ordered by President Trump in response to China's refusal to withdraw its 34% retaliatory tariffs. White House spokesperson Li Weit called this a "strong counterattack." Meanwhile, the Trump administration has initiated negotiations for "tailored" trade agreements with nearly 70 countries, with delegations from Japan and South Korea already in the U.S. for talks.

04/08 23:09

US-China Trade War Heats Up: US Imposes New Tariffs on Asian Manufacturing, Apple Considers Shifting iPhone Production to India, US and Taiwan Stock Markets Plunge

On April 9, 2025, U.S. President Donald Trump initiated the "Reciprocal Tariffs" policy, imposing high tariffs on goods from 60 countries, with Chinese goods facing a 54% rate and Taiwanese goods 32%, respectively. In response to pressure from increased costs, Apple plans to shift part of its iPhone production to India. This move caused a market reaction, with U.S. stocks plummeting and Apple's stock price dropping 19% within three days, resulting in a $638 billion loss in market value. Taiwan's technology and semiconductor supply chains were impacted, with the Taiwan stock market dropping more than 2,000 points and TSMC's stock price falling nearly 4%. The Taiwanese government initiated an NT$88 billion support plan to address the challenges.

04/08 22:09

The US-China trade war heats up: The US imposes a 104% tariff on Chinese goods, leading to significant fluctuations in US stocks; China responds by cutting reserve requirements and interest rates.

On April 9, 2025, the United States imposed a 104% total tariff on Chinese goods, escalating U.S.-China trade tensions and causing fluctuations in global markets. U.S. stocks were highly volatile that day, with the Dow Jones Industrial Average dropping 320 points. The Chinese government swiftly responded by devaluing the yuan, lowering reserve requirements and interest rates, and implementing housing market stabilization policies to support the economy. Concerns over a global economic recession intensified, as JPMorgan raised the recession probability to 60%.

04/08 20:40

Former President Donald Trump Announces Global Mutual Tariff Policy, Analysis Reveals It Is Not Truly Mutual

On April 2, 2025, former U.S. President Donald Trump announced a global "reciprocal tariffs" policy at the White House, describing it as a move to achieve trade fairness. However, according to data from the WTO and analyses by economists, these tariffs do not truly adhere to the principle of reciprocity but are based on bilateral trade deficits, imposing tariffs on multiple countries that are higher than the rates those countries impose on the U.S. This policy has sparked criticism for deviating from traditional reciprocal trade principles and has been accused of being aimed at eliminating the U.S. trade deficit.

04/08 19:08

The United States imposes a 26% tariff on goods from India, Taiwanese businesses temporarily halt shipments to the United States, while the domestic market in India bolsters confidence.

On April 3, 2025, U.S. President Donald Trump announced a 26% import tariff on Indian goods, impacting Taiwanese companies that have factories in India, leading some Taiwanese businesses to temporarily halt shipments to the U.S. India's strong domestic market supports the operations of these Taiwanese businesses. The Indian government has decided not to take retaliatory measures and is actively negotiating with the U.S. to pursue a bilateral trade agreement. The Indian Minister of Commerce and Industry convened a meeting to address the tariff impact, making bilateral trade negotiations a key area of focus for future developments.

Specifics and Effective Date of the 104% Tariff Imposed by the US on China

According to White House spokesperson Karoline Leavitt at a press conference on April 8, the 104% tariff imposed by the US on Chinese goods consists of three parts:

  • In February and March 2025, the US plans to impose a 20% tariff on Chinese goods as a punitive measure for China's alleged export of fentanyl;
  • On April 2, Trump announced a 34% "reciprocal tariff" on Chinese goods;
  • At 12:01 AM on April 9 (Eastern Time), the US will impose an additional 50% punitive tariff, resulting in a total tariff rate of 104%.

Leavitt pointed out that this measure is a direct response to China's failure to withdraw its 34% retaliatory tariff. She emphasized, "When America is hit, the President hits back harder." Trump himself also stated on the social platform Truth Social, "If China does not withdraw the 34% tariff, the US will impose an additional 50% tariff."

China's Response and Current Status of Bilateral Communication

Chinese Foreign Ministry spokesperson Lin Jian stated at a routine press conference on April 8 that the US's actions "do not reflect a willingness to engage in serious dialogue" and emphasized that China will "accompany to the end." The Chinese Ministry of Commerce announced on April 4 that it will impose a 34% retaliatory tariff on US goods, expected to take effect on April 10, and will strengthen export restrictions on rare earth elements such as samarium, dysprosium, and gadolinium.

The White House stated that it has not yet received formal contact from China. Leavitt noted that President Trump believes China wants to reach an agreement but "doesn't know how to start," adding, "If China contacts the US to reach an agreement, the President will be very accommodating, but China must call first."

Trump Promotes "Tailored" Trade Agreements: Negotiations with 70 Countries Underway

While imposing high tariffs on China, the Trump administration is also actively engaging in trade negotiations with other countries. According to reports from the White House and various media outlets, nearly 70 countries have reached out to the US, expressing a desire to negotiate trade agreements.

On April 2, Trump announced the implementation of "reciprocal tariffs" and a 10% baseline tariff on multiple countries, instructing the trade team to create "tailored" agreements for each country interested in negotiations. Leavitt stated that these agreements will be designed based on each country's market size, export products, and US import needs, with the goal of "ensuring the most favorable outcome for American workers and industries."

Japan and South Korea Lead Negotiations

Japan and South Korea are the first countries to engage in practical negotiations with the US. After Trump spoke with Japanese Prime Minister Shinzo Abe and South Korean Acting President Han Deok-soo on April 8, delegations from both countries have set off for the US to negotiate. According to White House data, the US imposes a 24% and 25% reciprocal tariff on Japan and South Korea, respectively.

Trump stated on Truth Social, "Our negotiations with South Korea could result in a mutually beneficial agreement. Their top team is on their way to the US, and things are looking good."

Negotiation Mechanism and Challenges of Tailored Agreements

White House economic advisor Kevin Hassett noted that due to the large number of countries involved in negotiations, the White House has formed an interdepartmental team to prioritize negotiations with key allies such as Japan and South Korea. He also admitted that they may need assistance from external law firms to assist with negotiation matters.

When signing an executive order at the White House, Trump stated, "Our problem is that we can't meet so many people so quickly, but we don't need to rush because the tariffs are already in place, bringing unprecedented fiscal revenue to the US."

Global Impact of Tariff Policy and US Stance

According to The Guardian, Trump claimed in a speech that the US earns $2 billion daily from tariffs, stating, "America will soon be very wealthy again." He emphasized that tariffs are a powerful tool for US negotiations and reiterated that "other countries are exploiting the US."

White House spokesperson Leavitt added that President Trump has a "steel spine" and will not back down in trade negotiations. She stated, "Countries like China choosing to retaliate are wrong. They are trying to abuse American workers, and the President will not tolerate it."

References

People Also Ask...

faq

The United States has imposed a 104% tariff on Chinese goods. What impact will this have on the global market?

faq

Will the U.S. imposing a 104% tariff on Chinese goods during this trade war cause prices to soar?

faq

Will Trump's imposition of additional tariffs on China this time affect our local import and export industry?