China's Retaliatory Tariff Hike

In a bold move that escalates the ongoing trade tensions, the Chinese Finance Ministry has announced a significant increase in tariffs on imports from the United States, raising them from 34% to a staggering 84%. This decision comes as a direct response to the recent levies imposed by Washington on Chinese exports.

A Strong Statement Against Unilateralism

The ministry did not mince words in its statement, condemning the US's actions as "a mistake on top of a mistake." It accused the US of infringing on China's rights, damaging the multilateral trading system, and destabilizing the global economic order through what it describes as "unilateralism, protectionism, and economic bullying."

Call for Dialogue: Amidst the rising tensions, China has urged the US to revoke all unilateral tariffs and engage in constructive dialogue to resolve the trade disputes between the two nations.