In a swift response to escalating tariffs imposed by the United States, China announced it would dramatically increase duties on American goods, raising them from 84 per cent to 125 per cent, effective immediately.
This retaliatory measure follows President Donald Trump’s decision earlier this week to significantly increase tariffs on Chinese imports to a rate of 145 per cent, intensifying the ongoing trade conflict between the world’s two largest economies. Beijing characterized Washington’s actions as a serious breach of international trade norms and fundamental economic principles.
“The US’s imposition of abnormally high tariffs on China seriously violates international trade rules, basic economic laws and common sense,” stated the State Council Tariff Commission of China.
Chinese officials indicated they would disregard any further tariff increases from Washington, asserting that American products would become economically unviable for importers. They placed responsibility on the United States for the resulting global economic instability.
According to a spokesperson for the Commerce Ministry, “Washington’s levies (caused) the current world economy, global markets and multilateral trading systems to suffer serious shocks and severe turbulence.”
The situation has also impacted other nations. Reports suggest that President Trump’s decision to temporarily suspend tariffs on all countries except China was influenced by Chinese pressure.
Prior to this latest escalation, duties on Chinese imports had already been raised to 104 per cent earlier in the week, prompting China’s initial response of increasing its own tariffs on US goods from 34 per cent to 84 per cent.
Xi Jinping’s Plea for International Cooperation
During a meeting with Spanish Prime Minister Pedro Sanchez in Beijing on Friday, President Xi Jinping emphasized that trade wars yield no benefits for anyone.
As reported by Xinhua, the Chinese leader also urged the European Union to collaborate with China to navigate the intensifying trade dispute with Washington.
- “China and Europe should fulfil their international responsibilities… and jointly resist unilateral bullying practices,” Xi Jinping stated. “This will not only safeguard legitimate rights and interests but also safeguard international fairness and justice.”
Despite the escalating tensions, President Trump recently expressed a positive view of his Chinese counterpart.
“I think President Xi is a man who knows exactly what needs to be done. He’s a very smart man. He loves his country. I know that for a fact. I know him very well,” the US President stated this week. “And I think he’s going to want to make a deal. I think that’s going to happen. We’ll get a phone call at some point, and everything will be ready.”
He concluded optimistically: “It is going to be a great thing for us, the world and for humanity.”
