China has announced that it will impose 84 per cent tariff on US goods from Thursday, a sharp increase from the previously declared 34 per cent, according to the country’s finance ministry, Reuters reported.
This move comes in response to US President Donald Trump’s decision to raise tariffs on Chinese imports to 104 per cent, effective Wednesday, intensifying the ongoing trade conflict between the world’s two largest economies.
The escalation follows Trump’s ultimatum to Beijing, demanding that it withdraw its retaliatory 34 per cent tariff on American goods within 24 hours or face harsher penalties. China’s refusal to comply has triggered Washington to impose an unprecedented 104 per cent levy on Chinese imports.
This move comes in response to US President Donald Trump’s decision to raise tariffs on Chinese imports to 104 per cent, effective Wednesday, intensifying the ongoing trade conflict between the world’s two largest economies.
The escalation follows Trump’s ultimatum to Beijing, demanding that it withdraw its retaliatory 34 per cent tariff on American goods within 24 hours or face harsher penalties. China’s refusal to comply has triggered Washington to impose an unprecedented 104 per cent levy on Chinese imports.
