China has responded to U.S. President Donald Trump’s tariffs by increasing its levies on American goods from 84% to 125%, according to a statement from the Chinese Finance Ministry.
The ministry on Friday that the current tariff rates have effectively eliminated the market for U.S. goods in China and added that Beijing would disregard further tariff hikes by Washington.
China said its new tariffs would take effect on Saturday.
The move came after Trump administration officials confirmed that the total U.S. tariff rate on Chinese imports now stood at 145%, following the president’s executive order that raised tariffs to 125%, on top of an existing 20% tax imposed earlier this year.
A spokesperson for China’s Commerce Ministry said earlier that Beijing was willing to negotiate with the United States on equal terms.
However, hopes for a resolution have dwindled as China has shown a willingness to impose tit-for-tat duties on American goods and put restrictions on U.S. businesses, something the White House did not anticipate.
4353
Your Comment