Today, April 9, China raised new tariffs on all US imports to 84%, thus taking a step in response to US President Donald Trump's tariffs.
This is reported by The New York Times.
Thus, China's Ministry of Finance announced that in response to President Trump's 50% tariff on all imports from China announced on Tuesday, it will impose its own 50% tariff. Last week, the two sides exchanged 34% tariffs, which also take effect.
The new Chinese tariffs on US goods are set to take effect one minute before the start of Thursday in China.
Two sharp tariff hikes by each side in the past week have led to the fact that duties have reached a level that is likely to stop the supply of many goods between the two countries, especially if the tariffs are in place for more than a few weeks.
Trump's latest tariffs, which took effect on Wednesday, hit dozens of America's trading partners, including many longtime allies such as European countries, South Korea and Japan.
As Ukrainian News Agency earlier reported, the additional tariffs imposed by Trump on imports from China will total 104%. They took effect on April 9.
The day before, Trump said he was waiting for a call from the Chinese side to conclude a deal.
Recall that on April 7, Trump threatened China with additional tariffs of 50% in response to China's introduction of a 34% tariff.
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