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China to increase tariffs on US goods to 125%, up from 84%
Trump announced a 90-day pause on his sweeping tariffs Wednesday, giving all countries a 10 per cent baseline except China, which will see even higher levies
- PUBLISHED: Fri 11 Apr 2025, 12:22 PM
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- Reuters
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Beijing on Friday increased its tariffs on US imports to 125%, hitting back against US President Donald Trump's decision to hike duties on Chinese goods to 145%, raising the stakes in a trade war that threatens to up-end global supply chains.
The hike comes after the White House kept the pressure on the world's No.2 economy and second-biggest provider of US imports by singling it out for an additional tariff increase, having paused most of the "reciprocal" duties imposed on dozens of other countries.
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"The US imposition of abnormally high tariffs on China seriously violates international and economic trade rules, basic economic laws and common sense and is completely unilateral bullying and coercion," China's Finance Ministry said in a statement.
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The escalating trade war has wiped off trillions of dollars in market value since last week as investors fear that the trade war will spark a recession.
Trump announced a 90-day pause on his sweeping tariffs Wednesday, giving all countries a 10 percent baseline except China, which will see even higher levies.
After days of turmoil, stocks on Wall Street and across Asia saw huge surges in reaction to Trump's announcement that he was halting a levy hike for almost all nations for 90 days.