There is yet another escalation in the China–US tariff battle. Days after US President Donald Trump raised tariffs on Chinese goods to 125 per cent, taking the total effective tariff rate to 145 per cent, Beijing has retaliated — hiking tariffs on American imports from 84 to 125 per cent. Earlier this week, China had warned it would “fight to the end” if Washington continued on what it called a unilateral path. China has said that it fresh 125 per cent tariff will be effective April 12.
China has not only hiked tariff on Amrican goods. It has also moved the World Trade organisation against the United State. China’s Commerce Ministry has said that it has filed a lawsuit with the WTO following the US tariff hikes.
Trump Slams China
Earlier this week, announcing his decision to hike tariff on Chinese goodson his social media platform Truth Social, US President Donald Trump had accused China of showing “lack of respect to the World’s Markets.”
Trump wrote, “Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable.”
China’s Vow To Fight To The End
Responding to Trump’s actions, China had reiterated that while it remained open to talks (with the US), any talks must be based on mutual respect and conducted on equal footing. The Chinese Commerce Ministry had also accused the US of being “bent on waging a trade war,” and had vowed to fight to the end.
Chinese Ministry of Commerce had said, “Pressure, threats and blackmail are not the right way to deal with China. We hope that the two countries will meet each other halfway and work towards resolving differences through dialogue and consultation, guided by the principles of mutual respect, peaceful coexistence and win-win cooperation.”
