Following U.S. President Donald Trump’s recent tariff hikes, China has announced a retaliatory 34% tariff on all U.S. imports effective April 10, mirroring the U.S. measures and adding to existing duties. Shipments loaded before April 10 and arriving before May 13 will be exempt. Beijing criticized the U.S. actions as unilateral and damaging to international trade rules, and also added 11 U.S. firms to its “unreliable entity list” while expanding export controls on dual-use goods to 16 more companies. Analysts warn that U.S. agriculture, making up 23% of exports to China, will be hit hard, with dry bulk shipping, especially panamax and supramax segments, affected as China shifts to alternate suppliers. While tanker trades may adjust more easily, broader economic slowdown risks loom from the escalating trade conflict.
