One month after US President Donald Trump’s “Liberation Day” tariffs shocked the world, the main trading partners of the world’s biggest economy remain divided over how to respond to the unprecedented measures.
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Below is an overview of the various reactions from US trade partners to Washington’s “reciprocal tariffs”, along with the different tariff levels and evolving trade relationships between the US and other countries.
We categorise countries into different camps, based on a benchmark published in a China Securities (International) Finance Holding research note.
“Fight to the end”: China strikes back
Stance: China will resolutely defend its rights and firmly uphold the multilateral trading system and international economic order, said a spokesperson from the Ministry of Commerce on April 11.
Tariff level: Washington has imposed tariffs totalling 145 per cent on Chinese imports so far this year, bringing the effective tariff rate to about 156 per cent. A fact sheet released by the White House on April 15 showed that China now faces tariffs of up to 245 per cent, including duties ranging from 7.5 per cent to 100 per cent that predate the second Trump administration. Meanwhile, Beijing’s new levies on US goods have risen to 125 per cent, also on top of earlier-imposed tariffs.
Trade level: US total goods trade with China was estimated at US$688.3 billion in 2024, up from US$664.5 billion in 2023, according to China Customs.
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US goods exports to China in 2024 totalled US$163.6 billion, down 0.37 per cent from 2023. US goods imports from China in 2024 totalled US$524.7 billion, up 4.9 per cent from 2023.
Countermeasures: China raised additional import tariffs on American goods to 125 per cent, after the US upped the rate to 145 per cent. But Beijing will “simply ignore” any further tariff escalations from the US in the future”, according to a statement from the Customs Tariff Commission of the State Council, the body in charge of administering tariffs and other trade measures.