China has announced it will raise tariffs on US imports to 84 per cent, up from 34 per cent, effective from 12:01 pm on Thursday.
The move comes just hours after the United States implemented similar tariffs, further escalating the ongoing trade war between the two countries.
President Donald Trump’s latest round of tariffs saw duties on Chinese goods soar to 104 per cent, marking a sharp increase in tensions between the world’s two largest economies.
Beijing has long opposed such tariff hikes and responded strongly on Wednesday, vowing to take “firm and forceful” measures to protect its interests.
In a statement on Wednesday, April 9, China’s finance ministry said the new 84 per cent tariffs on US products would be applied starting Thursday afternoon.
The ministry added that the US tariffs were a severe infringement on China’s legitimate rights and interests and further damaged the global trade system.
Zhiwei Zhang, president and chief economist at Pinpoint Asset Management, suggested that China’s response made it clear that the country was committed to its stance on trade policies.
He warned that the escalating tensions could lead to significant damage to both economies, with the outlook for global trade and economic growth becoming increasingly uncertain.
As part of the growing rift, other Chinese government departments also issued statements targeting US engagement.
China’s Culture and Tourism Ministry advised Chinese tourists to carefully assess the risks of visiting the US, citing deteriorating trade relations and security concerns.
Similarly, the education ministry warned Chinese students to consider the security risks before studying in certain parts of the US.
The commerce ministry further escalated the situation by announcing a blacklist of six US firms, including Shield AI Inc. and Sierra Nevada Corp., accusing them of selling arms to Taiwan and collaborating on military technology with the island.
