China, Increase tariffs on US products to 84%...Full escalation of trade war

The U.S.-China tariff war, expected to continue as unyielding conflict for the time being (Source: Global Times)

Trade conflicts between the U.S. and China are escalating into full-scale warfare.

On the 9th (local time), according to Walter Bloomberg, the Chinese government plans to impose increased tariffs on U.S. products from the existing 34% to 84% starting on the 10th. This is more than double the tariff rate announced just a few days ago, effectively declaring a head-on confrontation.

This measure is interpreted as a full-scale retaliation against the comprehensive reciprocal tariff policy announced by U.S. President Donald Trump. Previously, the U.S. announced that it would impose tariffs of up to 104% on major trading countries, including China.

If China's measures are fully implemented, key export items such as U.S. agricultural products, semiconductors, automobiles, and technological equipment are likely to be directly hit. If the retaliatory tariffs between the two countries are actually enforced, it appears inevitable that there will be a chain shock to the economy as a whole, including global supply chain collapse, exacerbated inflationary pressure, and deteriorating corporate performance.

The market is warning that this measure could cause significant volatility in the overall asset market, including stocks, foreign exchange, and cryptocurrencies. Although some assets like Bitcoin may be re-emphasized as a ‘digital refuge’, caution is also being raised that short-term adjustments cannot be ruled out.