China Increases Tariffs on US Goods to 125% Starting April 12
China has increased tariffs on US goods from 84% to 125%, effective April 12. This escalation contributes to the ongoing trade war between the two economies amidst shipping disruptions in the Pacific.
The European Union is preparing countermeasures in response to potential failures in US trade talks. European Commission President Ursula von der Leyen stated that the EU seeks a "balanced" agreement but may impose tariffs targeting US tech firms, specifically Meta and Google, through a digital advertising levy across the EU market.
If negotiations fail, von der Leyen indicated that the EU would reactivate previously suspended retaliation against US steel and aluminum tariffs and could extend these measures to US services. The EU aims to prevent Chinese goods, blocked by US tariffs, from entering its market and sees this as an opportunity to modernize WTO rules.