China raised tariffs on U.S. goods to 125%, criticizing Trump for ignoring economic principles and yielding under international pressure.
In a significant move, China has raised tariffs on American goods to 125%.
This decision marks a new escalation in the ongoing trade war between the two countries.
The new tariffs will take effect starting Saturday, reflecting China’s response to the recent actions taken by the U.S. government.
The trade war began with U.S. tariffs on China.
The trade war began several years ago when the United States imposed tariffs on various products from China.
These tariffs were intended to protect American industries and reduce the trade deficit.
However, they have led to rising tensions and retaliatory measures from China.
The latest increase in tariffs is a part of this ongoing conflict, with both countries exchanging significant economic blows.
China imposes 125% tariffs on US in retaliating as Trump defies basic economic laws and common sense
China’s finance ministry announced the new tariffs, stating that the U.S. tariffs defy “basic economic laws and common sense.”
They argue that the high tariffs are a form of bullying and coercion.
The Chinese government believes that such actions are harmful not only to their economy but also to global trade.
This latest hike represents a direct response to the U.S. raising its own tariffs on Chinese imports to the same level.
The U.S. has also faced criticism for its tariff policies.
Recently, President Trump increased tariffs on Chinese goods, claiming it was necessary to protect American interests.
However, many experts argue that these tariffs ultimately hurt American consumers, leading to higher prices for goods.
The ongoing trade war has created uncertainty in the market, affecting businesses and consumers alike.
The international community is closely watching the developments in this trade war.
Countries that rely on trade with both the U.S. and China are concerned about the potential fallout.
European leaders, for example, have expressed their desire for cooperation rather than conflict.
They worry that continued escalations could lead to a global economic downturn.
China will not back down from increased U.S. tariffs.
Chinese officials have made it clear that they will not back down in the face of increased U.S. tariffs.
They have stated that any further tariff increases from the U.S. will not change their approach.
Instead, they view these actions as an opportunity to strengthen their position in international trade.
President Xi Jinping has called for cooperation among nations to resist what he describes as unilateral bullying from the U.S.
“China and Europe should fulfil their international responsibilities… and jointly resist unilateral bullying practices,” Xi said.
“Even if the U.S. continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of world economy,” he said.