China increases additional tariffs on US imports to 125%
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China said it would increase additional tariffs on US goods to at least 125 per cent, in the latest ratcheting up of a trade war between the world’s two biggest economies.
China’s finance ministry said the increase from current additional levels of 84 per cent would take effect from April 12.
It comes after signs of disruptions to shipping across the Pacific amid escalating levies between the two sides in the past week.
The finance ministry added that it would not match further US tariff rises on Chinese exports, “given that at the current tariff level, there is no market acceptance for US goods exported to China”.
“The US’s imposition of abnormally high tariffs on China seriously violates international economic and trade rules, basic economic laws and common sense, and is completely a unilateral bullying and coercion,” it said.
