China to impose 34% retaliatory tariff on all goods imported from the U.S.

[BumRushDaShow]

Source: CNBC

Published Fri, Apr 4 2025 6:22 AM EDT | Updated 3 Min Ago


China’s finance ministry on Friday said it will impose a 34% tariff on all goods imported from the U.S. starting on April 10, following duties imposed by U.S. President Donald Trump’s administration earlier this week, according to state news outlet Xinhua.

“China urges the United States to immediately cancel its unilateral tariff measures and resolve trade differences through consultation in an equal, respectful and mutually beneficial manner,” Xinhua cited the finance ministry as saying in a Google-translated report.

The ministry further criticized Washington’s decision to impose 34% of additional reciprocal levies on China — bringing total U.S. tariffs against the country to 54% — as “inconsistent with international trade rules” and “seriously” undermining Chinese interests, as well as endangering “global economic development and the stability of the production and supply chain.”

CNBC has reached out to the White House for comment.

Read more: https://www.cnbc.com/2025/04/04/china-to-impose-34percent-retaliatory-tariff-on-all-goods-imported-from-the-us.html

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Article updated.

Original article -

Published Fri, Apr 4 2025 6:22 AM EDT


China’s finance ministry on Friday said it will impose a 34% tariff on all goods imported from the U.S. starting on April 10 in the wake of duties imposed by U.S. President Donald Trump’s administration earlier this week, according to state news outlet Xinhua.

This breaking news story is being updated.

[moniss]

1. So I guess if that includes wheat and ag products

the handwriting to US producers should be clear. An increase in defaults on farm loans, foreclosures etc. I would imagine that John Deere stock should take an extra hit today. Maybe it will wake some up but it's a horse gone from the barn at this point.

[underpants]

3. John Deere $447.45. Down $30.14 - $6.31% in the last 5 days

[BumRushDaShow]

4. The biggest (at least based on the last go-around) was the soybeans

as most of Asia are big users of soy for obvious reasons (e.g., cooking oil, tofu, miso, soy sauce, sprouts, edamame, etc).

[underpants]

2. Buicks are big in China.

80% of Buicks are sold in China. Many are made completely in China for Chinese consumption and aren’t available anywhere else but not all of them.

[speak easy]

5. ...

[progree]

6. Futures are diving fast, S&P 500 and Dow futures both down 3.0% at 700 AM ET

That's about 1100 points on the DOW.
https://www.Investing.com
Lots of info here including markets across the world. But some peculiarities about the site, I explain some of them at
https://www.democraticunderground.com/10143432216#post6

Anyway, on the right hand side, the "U.S. 30" is the Dow futures, and the "U.S. 500" is the S&P 500 futures. When the markets are open, they are synonymous with the regular Dow and S&P 500.

Another one: https://www.cnn.com/markets/premarkets

Rumors on the Street are that BRDS is working on a big jobs posting very shortly after 830 AM ET full of good news that will stablize the markets :ROFL:

[BumRushDaShow]

8. But lookee here

Will see if they close today with the correction.

(and some of the mass firings might start showing up in the UE numbers and it's not just civil servants, but all those grants/contracts that were eliminated that had people associated with them - we will see)

[progree]

12. Yup, a correction is almost a certainty today in the DOW. I'm more focussed on bear market. Won't happen today

might take a few more market days... (For thread readers who don't know - a bear market happens in an index when it goes down by 20% or more from a recent high -- the Russell 2000 small cap index, probably the 4th most cited U.S. index after the Dow, S&P 500, and NASDAQ -- entered bear market territory yesterday.

I don't know if we're going to get a back and forth with some tariffs on some countries being relaxed, and the market goes up, followed by some tough talk and retaliatory tariffs and the market goes down ... so I'm expecting a few up days along with many down days.

I don't expect a bad jobs report, given that the survey week was around March 12, and given the low unemployment insurance claims numbers (I know that the jobs report unemployment rate is a different animal)... but we'll see when you issue your report in less than 45 minutes and then sort it out.

investing.com - Dow & S&P 500 futures down 3.5% now (Dow down 1400 points) 752 AM ET

[BumRushDaShow]

15. I'm not expecting the Dow to hit 20% too soon

(I would think the "bargain hunters" would swoop in initially). But will have to see what happens with the NASDAQ since it is tech heavy and China is now threatening heavy metal restrictions.

I did also see a breaking that the 10-year Treasuries have been dipping below 4% this morning will have to watch that too!

[progree]

18. "the 10-year Treasuries have been dipping below 4% this morning"

Yes, about 45% of my reinvestable assets are in fixed income, and about 2/3 of that in intermediate term bond funds, so that's important to me. When intermediate interest rates go down, bond fund values go up. At yesterday's close, VCOBX, one of them, was up 3.2% total return YTD, while the S&P 500 index was down 8.2% YTD. So that's helped cushion the blow.

[BumRushDaShow]

20. Yeah I think people are going to start fleeing the stocks

and putting some part of their portfolio into bonds - at least until things settle down... IF they ever settle down!

[progree]

25. I don't expect it to be long before the S&P 500 reaches a bear market -- after dropping 6.0% Friday, its down 17.4%

from its Feb. 19 all time high, so only needs another 2.6% more down.

So, I'll be working this weekend on what fixed income asset I have to sell in order to BUY a broad-based EQUITY fund for when it reaches the 20% down point. It might be U.S. total market index fund, or that and and some small cap value index fund (VSIAX).

If/when it falls to 30% down, I'll do more of the same.

It's called buying the market on sale, and has always worked.

[BumRushDaShow]

26. NASDAQ hit bear today

And agree that what is bound to happen is - "bargain hunting"!!!

I have a little text file with this for the Dow (closed at 38,315 today) -

DOW 10% = 40,513 (-4501.4 from all-time high)
DOW 20% = 36,011.2 (-9008.2 from all-time high)

It's a couple thousand away...

[mopinko]

16. r u watching the vix?

must b through the roof, no?

[progree]

19. Watching it? not really , I just haven't learned what good and bad VIX numbers are, but anyway its at 40.6 right now,

up 35.2% from yesterday -- well I do know that up 35.2% isn't good

At investing.com it's on the right side panel "S&P 500 VIX"

[JohnSJ]

7. and according to Bloomberg,. They will immediately restrict exports of seven type of rare earth elements.

"Chinese authorities also said they will immediately restrict exports of seven types of rare earths, start an anti-dumping probe into medical CT X-ray tubes from the US and India, and halt imports of poultry products from two American companies. Additionally, it’s adding 11 American defense companies to an unreliable entity list, and imposing export controls on 16 US firms."

https://www.bloomberg.com/news/articles/2025-04-04/china-imposes-34-tariffs-on-all-us-imports-as-retaliation

We are really f**ked economically because of these jackasses.

I guess the mishandling of the pandemic wasn't enough for the idiots in this country who either voted trump, or refused to vote for VP Harris.

THERE WAS NO LESSER OF TWO EVILS EITHER. and anyone who present that as an argument is full of it.

[BumRushDaShow]

10. Will have to see if 45 has enough of a temper tantrum to completely revoke

MFN for China.

[JohnSJ]

11. no one can predict what the sociopath will do. He is saying he "might reduce the tariffs on China if they put tiktok

in a deal"

Why in the heck would a social platform be part of any deal tariff deal.

[BumRushDaShow]

13. He can try to "deal" (and steal) all he wants

but when it comes to what the GOP loves spouting about - the "CCP" (Chinese Communist Party), his GOP buddies might actually break from him on that issue.

[twodogsbarking]

9. Another thousand loss for the DOW. Futures are in the terlet.

[Bernardo de La Paz]

14. Dow is an adding machine era index, so 1896. SP500 is market capitalization weighted. Ditch the Dow. . . .nt

[BumRushDaShow]

22. Although the other indices give a truer perspective about the broader market

the Blue Chips have always been symbolic of the U.S.'s global status, and those corporations that manage to be listed there, have their bragging rights.

[Bernardo de La Paz]

23. Excellent precis of why it is still listed & followed. But I think it should be noted as an afterthought after SP500. nt

[BumRushDaShow]

24. But then this is why the Russell 2000 going "bear" has been concerning

as they are not only broad but often have stocks that make up good-sized funds entities (and have a tie to the FTSE).

https://www.democraticunderground.com/10143432822

[LetMyPeopleVote]

17. The retaliation begins

Link to tweet

[progree]

21. Payroll jobs up 228,000. Unemployment rate up a notch, from 4.1% to 4.2% (was 4.0% in January)

https://www.bls.gov/news.release/empsit.nr0.htm

for anyone reading the thread ...

Household survey numbers -- the survey that produces the unemployment rate and labor force participation rate among many others

https://www.bls.gov/news.release/empsit.a.htm

===========================================
Payroll jobs from the Establishment Survey: January: +111k, February: +117k, March: +228k
https://www.bls.gov/news.release/empsit.b.htm

===========================================
The whole enchilada
https://www.bls.gov/news.release/pdf/empsit.pdf

[Groundhawg]

27. They will cave. they need us worst than we need them.