The Chinese Ministry of Finance has announced a significant escalation in the ongoing trade dispute with the United States. Effective Saturday, tariffs on U.S. goods will be raised from the previously announced 84% to an unprecedented 125%. This move comes as a direct response to recent tariff hikes imposed by the U.S. government, which have pushed duties on Chinese imports to an effective rate of 145%.
In a statement, the Chinese Commerce Ministry criticized the U.S. for its "abnormally high tariffs," describing them as a violation of international trade rules and basic economic principles. The Ministry emphasized that China would "resolutely counter and fight to the end" if the U.S. continues to infringe on its interests.
The tariff increase is expected to impact a wide range of U.S. goods, further deepening the trade war between the world's two largest economies. Analysts warn that this escalation could have significant repercussions for global markets and supply chains.
China has also announced plans to file another lawsuit with the World Trade Organization, challenging the legality of the U.S. tariffs. The move underscores Beijing's determination to defend its economic interests amid mounting pressure from Washington.