AGENCY
beijing, Apr 9
In a further escalation of the ongoing trade war, China on Wednesday raised tariffs on goods coming from the US to 84 per cent from the 34 per cent previously announced.
Beijing’s additional countermeasure comes after US President Donald Trump imposed a 104 per cent tariff on Chinese exports to the US from April 9.
On Tuesday, the White House announced the imposition of a 104 per cent tariff on China in what it had called reciprocal tariffs even as the escalating trade war has shaken markets across the globe.
The US termed Beijing’s latest move as “unfortunate”. “I think it’s unfortunate that the Chinese actually don’t want to come and negotiate because they are the worst offenders in the international trading system,” US Treasury Secretary Scott Bessent said.
Earlier in the day, China’s State Council Information Office released a white paper which alleged that friction in trade between the US and China had significantly impeded normal economic and trade cooperation between the two countries.
China accused the US of violating the WTO’s rules and said it was undermining the multilateral trading system. “Reciprocal tariff is not – and will never be – a cure for trade imbalances. Instead, they will backfire, harming the US itself,” it said.
