The Asian giant, recognized as the world’s second-largest economy, is currently engaged in a significant battle against the extensive tariff campaign initiated by U.S. President Donald Trump. This campaign is causing substantial disruptions within the international trade system.
China stands as the primary target of these new U.S. measures enacted today, which have increased tariffs on Chinese goods from 34% to 84%. This hike adds to the existing 20% tariffs imposed by the United States on Chinese products since January.
“This new 50% increase in customs duties is yet another mistake that compounds previous ones and highlights the unilateral and coercive nature of the American measures,” stated a spokesperson from China’s Ministry of Commerce in a declaration issued today.
Furthermore, Beijing has initiated proceedings with the World Trade Organization’s dispute resolution mechanism, as confirmed in a press statement.
Beijing has vowed to “resolutely defend its legitimate rights and interests and to firmly uphold the multilateral trading system and the international economic and trade order.”
Additionally, China announced today its intention to raise its retaliatory tariffs on American products to 84%, up from the initially planned 34%, signifying a further escalation in the trade war between Beijing and Washington.
