China is raising taxes against America to 125% from Saturday in the latest escalation in the burgeoning trade war, the finance ministry shared today.
The latest array of duties is a huge climb from the 84% shared on Wednesday, which is rising to meet the latest US tariffs imposed on China’s products.
Beijing shared how the American tariffs against China are unjustified and go against the basic economic laws and common sense after Donald Trump chose to raise the rate for Chinese imports to a whopping 125%.
The mention had to do with the rolling out of very high tariffs that amounted to unilateral bullying and coercion.
China’s tariff hike is only moving in line with Trump’s latest raft of duties, Washington declared yesterday, and that again didn’t make a lot of people happy.
Beijing mentioned how it wouldn’t like to reply to any more taxes imposed by the US but needed to give the country a taste of its own medicine. For now, the Trump administration is keeping up with the pressure on China despite backing down from high and variable duties on dozens of other nations, other than China, of course.