China has reportedly escalated trade tensions with the United States by imposing a staggering 125% tariff on American goods, a significant retaliation as the ongoing trade war intensifies.
This announcement came shortly after President Donald Trump raised tariffs on Chinese imports to 125%, coupled with an additional 20% tariff citing China’s involvement in the fentanyl trade.
Key American products likely to be affected include soybeans, pharmaceuticals, and airplanes.
Chinese officials have characterized the U.S. tariffs as acts of “bullying” and “coercion,” asserting that such actions violate international trade norms and basic economic principles.
The Ministry of Finance released a statement condemning the high tariffs as unilateral aggression, emphasizing that American goods would have no market acceptance in China at the current tariff rates.
They warned that if the U.S. persists with its tariffs, China would dismiss the action entirely.
In response, Jamieson Greer, the U.S. trade representative, remarked that the new tariffs were not unexpected but regrettable.
He expressed confidence that the country would navigate the changes without a significant rise in household costs.
China has also lodged complaints with the World Trade Organization, claiming that the U.S. undermines the multilateral trading system and international economic order.
Amidst these tensions, President Xi Jinping met with Spanish Prime Minister Pedro Sánchez to discuss strengthening ties between the European Union and China, hinting at potential international alliances in the face of U.S. policies.
Trump expressed his belief that a deal with China is achievable, yet cautioned against retaliatory measures. He accused China of showing a “lack of respect” for global markets, asserting that the days of exploiting the U.S. are numbered.
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