r/wallstreetbets • u/s1n0d3utscht3k • 1d ago

News China Imposes 34% Tariffs on All US Imports

https://www.bloomberg.com/news/articles/2025-04-04/china-imposes-34-tariffs-on-all-us-imports-as-retaliation

China will impose a 34% tariff on all imports from the US starting April 10, according to the official Xinhua News Agency.

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u/CantoniaCustomsII 1d ago

500 Yuan once RMB is the new reserve currency.

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u/Prestigious_Chard_90 1d ago

Currently, USD doing well vs all save the yen (and EURO). Aussie dollar getting wrecked. Down 4%+ as of this moment. Below the covid bottom.

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u/OpeningName5061 18h ago

Whooop that just means Chinese can import more Australian beef and just forget about US beef. Australian beef is superior anyway.

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u/Prestigious_Chard_90 16h ago

Yep. I have a feeling China was buying US beef as a "courtesy". Like, when you agree to hear your lame coworker's new joke, even though you know it will be bad.