China raises counter-tariffs on U.S. to 84% as Trump’s trade war escalates
Global News
China has raised tariffs to 84 per cent on goods coming from the U.S. in an additional countermeasure, up from 34 per cent tariffs it announced last week.
China has raised tariffs to 84 per cent on goods coming from the U.S., effective Thursday, in an additional countermeasure.
Last week, China said it would levy 34 per cent tariffs on all U.S. goods.
On Wednesday, Trump’s tariffs of 104 per cent went into effect on Chinese exports to the U.S.
Earlier, China again vowed to “fight to the end” against Donald Trump’s tariffs in a lengthy policy statement published Wednesday, arguing that trade between the two countries is in balance as a 104 per cent tax on the country’s exports to the U.S. came into effect.
The government declined to say whether it would negotiate with the White House, as many other countries have started doing.
“If the U.S. insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end” the Ministry of Commerce wrote in a statement introducing the white paper.
Last Friday, China announced a 34 per cent tariff on all goods imported from the U.S, export controls on rare earths minerals, and a slew of other measures in response to Trump’s “Liberation Day” tariffs. Trump then added an additional 50 per cent tariff on goods from China, saying negotiations with them were terminated.
So far, China has not appeared interested in bargaining. “If the U.S. truly wants to resolve issues through dialogue and negotiation, it should adopt an attitude of equality, respect and mutual benefit,” said Ministry of Foreign Affairs spokesman Lin Jian Wednesday.
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