As announced by the Finance Ministry on Friday, China has increased tariffs on all U.S. imports from 84% to 125%, effective April 12. This decision follows an earlier escalation in U.S. tariffs on Chinese goods initiated by President Donald Trump.
The statement from the Customs Tariff Commission of the State Council noted that further U.S. tariff hikes would become economically nonsensical and a historical economic misstep. China will disregard any additional tariff actions from the U.S. on its products.
