China retaliates against Donald Trump's tariffs, to impose 34% tax on all US goods

The current positioning of the US and global expansion points to limited vulnerability that might suggest a relatively mild downturn. But recessions are inherently unpredictable,

Kasman said

These policies, if sustained, would likely push the US and possibly global economy into recession this year,

wrote head of global economic research Bruce Kasman in a note late Thursday

Scenario where rest of world muddles through a US recession possible but less likely than global downturn,

the note said

China hits back—announces 34% tariff on US goods in retaliation to Trump’s move. Is the trade war escalating?”

A third user questioned

China hits back... To impose 34% retaliatory #tariffs back on US. Their economy’s in trouble, but cornering a cat? It WILL fight back.”

One user wrote

Trump has dragged us neck-deep into a tariff disaster. China will eat our lunch… and we’re marching straight into a Great Depression. I DARE any of these cowardly chicken shit Republicans to show up at a town hall now.”

One particularly frustrated user vented

We feel that this is unreasonable and are also worried about the subsequent impact these measures may have on the global economy.”

Lai said in a statement on his Facebook page

The likely outcome is that China will become the largest trading nation and its economy will be trading more with other nations and the U.S. may ... become more isolated,

Wang said

If enforced, would negatively impact bilateral economic and trade relations as well as the interests of businesses and people in both countries,

Hang said in comments cited by state-run media, which reported that the deputy prime ninister and former finance minister Ho Duc Phoc was scheduled to visit the U.S. for trade talks next week

The global trading system has serious deficiencies,

the president of the EU's European Commission, Ursula von der Leyen, said Thursday while on a visit to Uzbekistan

The purpose of the Chinese government's implementation of export controls on relevant items in accordance with the law is to better safeguard national security and interests, and to fulfill international obligations such as non-proliferation,

China's commerce ministry said in a statement

This practice of the US is not in line with international trade rules, seriously undermines China’s legitimate rights and interests, and is a typical unilateral bullying practice,

China’s State Council Tariff Commission said in a statement announcing its retaliatory tariffs

I went deep on the numbers today, and the numbers don’t make any sense… The chart that they had with the mathematical equation, I mean, are you kidding me? How about just the fact that it was wrong… Jeez come on!"

Cramer was baffled by Trump's tariffs list and publically slammed him, saying

Ong Kian Mingthe former deputy minister

But in the medium to longer term, Malaysia will slowly pivot to other regions and be less dependent on the U.S. for trade and investment flows,

said Ong Kian Ming of the Malaysian Investment Development Authority in Kuala Lumpur

I don’t think this will push the Cambodian government to China because China is still not the main market for Cambodian goods,

said Seun Sam, a policy analyst at the Royal Academy of Cambodia

While countries around the world expand ‘circles of friends’ for trade,” America’s imposition of tariffs means it is “self-isolating” from a network of global trade agreements

said a blog post by state broadcaster CCTV

Wendy Cutlerformer U.S. diplomat

Beijing is stepping up efforts to court U.S. allies and partners who remain stunned and disappointed by the new U.S. tariff hikes aimed at them,

said Wendy Cutler, vice president at the Asia Society Policy Institute and a former U.S. trade negotiator

Everyone feels attacked by the U.S. and the victims can empathize with each other through trauma bonding,

said Xing Yue, director of the Center for Chinese Foreign Policy at Tsinghua University in Beijing

Until China actually takes steps to meaningfully address those concerns, irrespective of Washington, I don’t think you are going to see credulity in those other capitals,

said Chan, the Eurasia Group analyst

[X ... Xi] doesn’t want to make it seem like China is vulnerable,

said Jeremy Chan, senior analyst on the China and Northeast Asia team at Eurasia Group, a consultancy