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 goods imported from the United States. The tariffs have been raised from 84% to 125%, a move that comes as a direct response to the Trump administration's decision to impose a 145% tariff on Chinese exports. This new measure is set to take effect at midnight local time on April 12.

China's Stance on US Tariffs

"The US's continued imposition of higher tariffs is not only economically nonsensical but will also be remembered as a folly in the annals of global economic history," stated the ministry. It further emphasized that at the current tariff levels, US goods face no market acceptance in China. The ministry also issued a stark warning, indicating that Beijing would disregard any further tariffs imposed by Washington on Chinese goods.