China has taken retaliatory measures against the United States following new tariffs introduced by President Donald Trump. Beijing announced it would raise tariffs on American goods to 84%.

According to Bloomberg, the Chinese countermeasures will take effect on April 10. China's decision came after the latest round of tariffs imposed by Trump went into effect, bringing the total announced tariffs this year to 104%.

Chinese exports have already faced general tariffs introduced earlier this year, as well as punitive duties imposed during Trump’s first term and continued under the Biden administration.

China has also added six companies to its list of unreliable entities, and twelve American organizations have been included on its export control list.

U.S. stock futures fell by approximately 1.7% after China announced the new tariffs on American goods. European stocks dropped by more than 4%.

U.S. President Donald Trump announced a baseline tariff of 10% on imports from all countries except Canada and Mexico, along with additional tariffs targeting around 60 countries, including China.

For China, this meant an additional 34% tariff, bringing the total to 54% when combined with previous duties. In response, Beijing announced an additional 34% tariff on all American goods.

On April 8, the U.S. announced a total tariff of 104% on goods imported from China, marking an escalation in the trade war between the world's two largest economies.