China retaliates with 84% tariff on US imports following Trump’s 90-day pause in reciprocal tariffs, excluding China
China’s 84-percent levy on US imports took effect on Thursday as Beijing hit back at triple-digit tariffs imposed on the country’s goods by Washington following Trump’s new round of global tariffs that kicked in earlier Wednesday.
Recall China’s commerce ministry which had previously called the US tariffs “a mistake on top of a mistake,” said ‘China will fight to the end.’
US President Donald Trump’s latest round of reciprocal tariffs on trading partners kicked in on Wednesday though he later, same day rolled them back for 90 days, saying more than 75 countries are ready to negotiate new trade deals.
But Trump made an exception for imports from China raising the tariffs on the country to 125 percent.
Donald Trump Wednesday suspended most of the tariffs he calls “reciprocal” for three months, during which time they will be lowered to 10 percent.
He said: “I thought that people were jumping a little bit out of line. They were getting yippy, you know, they were getting a little bit yippy, a little bit afraid,” he said while explaining his moves to reporters at Washington on Wednesday. “They all want to make a deal. Somebody had to do what we did. And I did a 90-day pause for the people that didn’t retaliate.”
Trump posted on social media that he is taking the step because more than 75 countries have indicated a willingness to negotiate on trade. However, he is reacting to retaliation from China by increasing additional tariffs to 125 percent, effective immediately.
Already, China’s commerce ministry had announced bans on exports of goods that could have military applications to 12 American companies. It is also barring trade with six US firms engaged in military development.
Other nations and blocs have retaliated as well. The European Union will impose tariffs of up to 25 percent on some US imports, including motorcycles and farm goods, starting in mid-April.
As the tit-for-tat trade conflict escalates, China’s commerce ministry said it has filed a complaint with the World Trade Organization, claiming the US levies “seriously violate” WTO rules.