China Slaps US Goods with 125% Extra Tariffs, Promises to “Fight to the End”
Beijing ramps up trade tensions, significantly increasing tariffs on American goods as a response to continued disputes.
China increases tariffs on US goods from 84% to 125%, warning it will “fight to the end” if the US persists in encroaching on Chinese interests.
New Delhi:
In a new sharp trade tension escalation, China’s finance ministry stated on Friday that it had increased tariffs on US products to 125%, up from 84%.
“If the US continues to interfere in China’s interest in a substantial manner, China will take firmly countermeasures and resist to the end,” the Chinese finance ministry said in a statement to Reuters.
The action is a dramatic escalation of the escalating trade war between the two largest economies in the world. The latest tariff increase is widely interpreted as a tit-for-tat response to what Beijing sees as persistent pressure and provocation from Washington.
The stern warning by the Chinese government indicates that tensions could rise even further, with officials making clear that they stand ready to implement more aggressive measures if required.
Although the details of affected commodities have not yet come out in full, experts indicate the higher tariffs may impact a broad spectrum of US exports, and may hit sectors such as agriculture, technology, and automobiles significantly.
This is a breaking story. Continue to check for further developments as they arise.
