The Chinese governmenton the morning of Friday 11 April, announced a further Increase in duties against imports from the United States, bringing them from 84% to 125%. The decision came after last Thursday the administration of Donald Trump confirmed a tariff rate against Chinese products of the 145%: The percentage is the sum of the duties of 125% imposed by Washington in the last week and 20% imposed between February and March 2025 as a retaliation for the failure to collaboration in Beijing in contrasting the trafficking of Fenanyl in the USA.
Beijing’s position
The Chinese government guaranteed that L‘increase decisive on 11 April will be the last. As clarified in a press release from the Ministry of Finance, “even if the United States continued to impose higher rates, it would no longer have sense from an economic point of view and would become one joke in the history of the world economy». The declaration continues by stating that “with rates at current levels, there is no longer a market for US goods imported to China”, so “if the United States government will continue to increase duties against ChinaBeijing there will ignore».
The repercussions on the Chinese market
Despite the decision in responding to US commercial attacks, many analysts have pointed out that the ongoing tariff clash will have serious repercussions for the Chinese economy. The Chinese exports to the United States represent 3% of the country’s GDPand a drop would have direct repercussions on at least 10-20 million workers. Although Chinese exports to the USA represent only about 3 percentage points of total Chinese GDP, the impact on employment remains significant, said Goldman Sachs analysts. In addition, analysts estimate that about 10-20 million workers in China are employed in the export sector directed to the United States.
The New York business bank has Reduced the growth forecast of Chinese GDP this year at 4%due to the tensions with Washington and the expected slowdown of the global economy of the next few months. Also for this reason, the Chinese Ministry of Commerce has leaked the willingness to start negotiations With the US counterparty, as long as they are between even and lead to a mutually advantageous agreement.
