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The Situation Room with Wolf Blitzer

China Fires New Shot in Trade War

The Situation Room with Wolf Blitzer

CNN

News

3.6857 Ratings

🗓️ 9 April 2025

⏱️ 79 minutes

🧾️ Download transcript

Summary

Just hours after Donald Trump's 104% tariff on China took effect, China retaliates with an additional 84% tax on all US goods. The president treasury secretary says China has made a "huge mistake."  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

I'm Pamela Brown happening now, breaking news, China, and now the European Union retaliating

0:07.4

with countermeasures.

0:08.9

We are watching the markets as the Wall Street reacts to the escalating trade war with

0:13.5

one of America's top trade partners.

0:16.3

And President Trump's Treasury Secretary is now brushing off the now 84% tariff on U.S. exports to China,

0:23.6

saying, and I'm quoting him now, so what? We have more reaction this morning from the White House

0:28.6

as countries are looking for potential deals. We want to welcome our viewers here in the United States and around the world.

0:36.6

I'm Wolf Blitzer. You're in the Situation Room.

0:39.3

This is CNN Breaking News.

0:48.3

And we begin this hour with Breaking News, a new shot fired in the world's escalating trade war. This morning, China

0:55.7

has announced its own retaliatory tariff against the United States, an additional 84% tax

1:02.1

on all U.S. goods imported into the country. It comes, Pamela. Just hours, Wolf, after Washington's

1:08.5

104% tax took effect on Chinese goods entering the U.S.,

1:13.4

President Trump's Treasury Secretary this morning saying China has made a huge mistake.

1:19.2

I think it's unfortunate that the Chinese actually don't want to come and negotiate because

1:26.1

they are the worst offenders in the international

1:29.0

trading system. They have the most imbalanced economy in the history of the modern world,

1:34.7

and I can tell you that this escalation is a loser for them. They are the surplus country.

1:41.3

Their exports to the U.S. are five times our exports to China. So they can raise

1:50.6

their terrorists, but so what? We're covering all the angles of this incredibly important

1:56.8

development. CNN's Mark Stewart is joining us in Beijing. CNN Business and Politics

2:01.6

correspondent. Vanessa Yerkevich is in New York following the U.S. markets. Mark, let me begin with you.

...

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