China strikes US with 125 percent tariffs
(MENAFN) China has announced it will raise tariffs on American goods from 84% to 125%, marking the final increase in response to the tariff actions taken by US President Donald Trump. The Chinese government has made it clear that no further increases will be implemented, regardless of any future actions from Washington.
On Wednesday, President Trump raised tariffs on Chinese imports to 125%, accusing China of exploiting the US and other countries in trade. Trump emphasized that this move is meant to force China to acknowledge that unfair trade practices are no longer tolerable.
The Customs Tariff Commission of China's State Council stated on Friday that the new 125% tariff on US products will take effect starting Saturday as a retaliatory measure to Trump's recent tariff hikes. The commission further added that under the current tariff structure, there is no market for US goods in China. They also warned that any future US tariff actions would be disregarded by China.
In its statement, the commission condemned Trump's high tariffs as “unilateral bullying and coercion,” calling them a severe violation of international trade rules, economic laws, and basic common sense.
After Trump's announcement of the new tariffs caused a significant drop in US stock prices last week, he declared a temporary 90-day break on reciprocal tariffs for other trading partners, reducing them to a 10% baseline. However, China remained an exception, seeing its tariffs increased instead. White House officials also confirmed that the 25% tariffs on car manufacturers and steel and aluminum producers in Mexico and Canada will stay in place.
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