Beijing on Friday increased its tariffs on US imports to 125%, hitting back against US President Donald Trump's decision to hike duties on Chinese goods to 145%, raising the stakes in a trade war that threatens to up-end global supply chains.
The hike comes after the White House kept the pressure on the world's No 2 economy and second-biggest provider of US imports by singling it out for an additional tariff increase, having paused most of the "reciprocal" duties imposed on dozens of other countries.
"The US imposition of abnormally high tariffs on China seriously violates international and economic trade rules, basic economic laws and common sense and is completely unilateral bullying and coercion," China's Finance Ministry said in a statement.
In a sharp escalation of the ongoing trade war with China, US President Donald Trump on Thursday announced a dramatic increase in tariffs on Chinese goods, raising them to 125%, effective immediately. The move comes as part of Trump's continued efforts to combat what he perceives as unfair trade practices by China.
Also Read: Trump’s tariff strategy: 125% on China, 90-day pause for other nations
In a statement posted on Truth Social, Trump expressed frustration with China’s trade practices, particularly regarding its influence over global markets. “At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A. and other countries is no longer sustainable or acceptable,” Trump wrote.
The 125% tariff increase marks a significant jump from previous rates, further intensifying tensions between the two global powers. The tariff hike follows months of escalating trade disputes, with both nations imposing tariffs on hundreds of billions of dollars worth of goods.
The move could have far-reaching consequences for businesses, consumers, and global supply chains.
Also Read: China hikes tariffs on US goods to 84% in response to Trump’s move
Alongside the tariff increase on China, Trump also revealed plans to pause some of the tariffs imposed on other countries. He announced that for a period of 90 days, a reciprocal tariff of 10% would be applied to certain nations that have reached out to the US for trade negotiations.
Trump explained that this gesture was a reward for those countries that had not retaliated against the US and had shown a willingness to discuss trade barriers, tariffs, and currency manipulation.
“These countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States,” Trump stated.
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