China’s Finance Ministry has announced that starting April 12, it will increase additional tariffs on U.S. goods from 84% to 125%. This move is in response to the rising trade tensions. China also stated it may no longer respond to future U.S. tariff hikes if the U.S. continues down this path.
China’s Finance Ministry has said it won’t respond to any more U.S. tariff hikes on Chinese exports. Meanwhile, the Commerce Ministry urged the U.S. to take major steps to remove what it called “reciprocal tariffs” and to fix its harmful trade actions. However, China warned that if the U.S. continues to damage its interests, it will take strong countermeasures.
China’s Foreign Minister Wang Yi criticized the U.S. for its tariff decisions, saying America shouldn’t act carelessly. He added that history can’t be reversed and things must move forward.
[…] China’s latest trade data shows a sharp contrast between booming exports and falling imports, highlighting the impact of the U.S.-China trade war and sluggish domestic demand. While Chinese exporters are rushing shipments ahead of escalating U.S. tariffs, domestic consumption remains under stress, putting pressure on Beijing’s growth targets. […]