China's Bold Move in Trade War

In a significant escalation of the ongoing trade tensions, the Chinese Finance Ministry announced on Friday a drastic increase in tariffs on US imports, from 84% to 125%. This decision is a direct response to the Trump administration's recent imposition of a 145% tariff on Chinese exports.

Effective Immediately

The new tariffs are set to take effect at midnight local time on April 12, marking a pivotal moment in US-China trade relations.

China's Stance

"Even if the US continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of the world economy," the ministry stated. They further emphasized that at the current tariff level, US goods exported to China face no market acceptance. The ministry warned that Beijing would disregard any further tariffs imposed by Washington.