The trade war between the United States and China has continued to escalate this morning, with China again responding to the latest tariff hike by the United States.
China this morning indicated it had raised its retaliatory tariffs on American goods from 84% to 125%, which follows the US raising its own tariffs against China to 145% on Thursday. The latest hike announcement came from the State Council Tariff Commission, however it appears that China is done playing games here.
In a statement, a Commerce Ministry spokesperson commented on the absurd situation, stating, “The successive imposition of excessively high tariffs on China by the US has become nothing more than a numbers game, with no real economic significance. It merely further exposes the US practice of weaponizing tariffs as a tool of bullying and coercion, turning itself into a joke.”
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Future measures instead are expected to take other forms of retaliation, however China was not specific in terms of potential countermeasures.
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