BEIJING: China will increase tariffs on U.S. imports to 84%, up from the previous 34%, the country’s ministry of finance announced on Wednesday. This decision comes just hours after similar tariffs by the United States took effect, including a steep 104% duty on Chinese products.
In response to the U.S. move, which targets dozens of trading partners, Beijing strongly opposed the tariff hikes, vowing to take “firm and forceful” actions to safeguard its interests. The finance ministry issued a statement saying the additional tariffs on U.S. goods would go into effect at 12:01 pm on Thursday, escalating tensions between the two global powers.
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The escalation of tariffs by the U.S. simply compounds errors and severely infringes upon China’s legitimate rights and interests,” the ministry said. It further criticized Washington’s actions, claiming they “severely damage the multilateral rules-based trade system.”
In another retaliatory step, MINISTRY OF COMMERCE, PEOPLE’S REPUBLIC OF CHINA revealed it would blacklist six American artificial intelligence companies, including Shield AI Inc. and Sierra Nevada Corp. These firms were accused of selling arms to Taiwan or engaging in military technology collaboration with the island, further intensifying the trade dispute.
The ongoing tariff war between the U.S. and China has been marked by increasing duties, with both sides showing no signs of backing down, further complicating global trade relations.
