China is imposing additional tariffs of 84% on U.S. imports, according to the report from Reuters. This escalates the trade tension with the U.S. that had just implemented a total of 104% tariffs on Beijing.
The 84% tariffs would match the U.S. President Donald Trump’s duties that came into effect today. 34% was from retaliatory tariffs earlier and a new 50% tariffs announced today. The new policy will come into effect on April 10.
Additionally, China’s Commerce Ministry has recently expanded its ‘unreliable entity’ list to include six U.S. entities, disclosing concerns over their business practices. In a related move, the ministry also added 12 U.S. entities to its export control list, increasing regulatory scrutiny on their activities.
