China and EU Retaliate with Tariffs Following US Trade Measures, Sparking Global Market Volatility

China increased import tariffs on American products to 84% on Wednesday, April 9th, in response to the U.S. raising tariffs on Chinese goods to 104%. Restrictions were also placed on imports from 18 American companies, primarily in defense-related sectors. The European Union announced tariffs ranging from 15% to 25% on approximately €21 billion worth of U.S. goods, targeting products like soybeans, fruits, motorcycles, and cosmetics. These tariffs are set to take effect next Tuesday. Global markets reacted negatively to these developments. Taiwan's Taiex index fell by 5.9%, and the Tokyo Stock Exchange shrank by 3.9%. European indices also opened sharply lower, with Germany's DAX down 2.59% and France's CAC 40 falling 2.1%.