China's Bold Move in Trade War

The Chinese Finance Ministry made a significant announcement on Friday, revealing a drastic increase in tariffs on goods imported from the United States. The tariffs have been raised from 84% to 125%, a move that directly responds to the Trump administration's recent imposition of a 145% tariff on Chinese exports. This new tariff rate is set to take effect at midnight local time on April 12.

Ministry's Strong Statement

"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. It further emphasized that at the current tariff level, US goods exported to China face no market acceptance. The ministry also warned that Beijing would disregard any further tariffs imposed by Washington on Chinese goods.