China escalates trade war, slaps 84% tariffs on US goods

China imposed retaliatory tariffs of 84% on US-made goods, stepping up a trade war after the White House raised duties on Chinese imports to 104% earlier on Tuesday.

The Customs Tariff Commission of the State Council said it had lifted tariffs on US goods from 34%, effective today, to 84% starting April 10.

In a parallel move, Beijing added six companies to its unreliable entities list and placed 12 American firms on its export control watchlist, in response to Washington’s latest blacklisting of Chinese companies.

The escalation follows a warning from Beijing earlier in the day that it would take "strong and resolute measures" to defend its interests. China said it would firmly confront and fight any further US economic and trade restrictions.

Firms listed as unreliable entities will be barred from engaging in import or export activities related to China and prohibited from making new investments in the country.

The measures mark a sharp escalation in the global trade tensions triggered by the United States, raising fears of higher consumer prices in major economies and the potential for a slowdown in US economic growth.