The finance ministry declared today that starting from Saturday, China will increase its tariffs on the United States to 125% in the latest development of the growing trade war.
These new tariffs represent a substantial increase compared to the 84% announced on Wednesday, reaching a level that matches the current U.S. tariffs on Chinese goods. After Donald Trump raised the tariff rate on Chinese imports to 125%, Beijing stated that the U.S. tariffs on China go against “basic economic laws and common sense.” A statement from the finance ministry indicated that the imposition of “abnormally high tariffs” is equivalent to “unilateral bullying and coercion.”
China’s tariff increase is merely in response to Trump’s most recent set of duties. Washington stated yesterday that the 125% announced on Wednesday was on top of an existing 20%. Beijing did note that it would not take any further actions in response to additional tariffs imposed by the U.S.
Despite reducing high and diverse tariffs on dozens of other trading partners this week, the Trump administration has continued to put pressure on China. While the EU currently faces a baseline 10% tariff rate with a 90 – day period for negotiations, leaders are still considering countermeasures in case the talks fail.
