China's Bold Move in Trade War

In a significant escalation of the ongoing trade tensions, the Chinese Finance Ministry has announced a drastic increase in tariffs on imports from the United States, from 34% to 84%. This decision, set to take effect on April 10, is a direct response to the recent levies imposed by Washington on Chinese exports.

A Strong Statement Against Unilateralism

The ministry criticized the US's actions as a "mistake on top of a mistake," accusing Washington of infringing on China's rights, damaging the multilateral trading system, and destabilizing the global economic order. The statement highlighted the move as an example of unilateralism, protectionism, and economic bullying, urging the US to revoke all unilateral tariffs and engage in dialogue to resolve trade disputes.