China has announced a 34% increase in tariffs on goods coming from the United States, as a form of retaliation.
This decision was made by Beijing after U.S. President Donald Trump had imposed a 34% tariff increase on Chinese goods on Wednesday, which added to the previous 20% tariff, bringing the total to 54%.
On Friday, China’s Ministry of Finance announced that this new tariff would take effect on April 10.
The Ministry explained that the decision was made in order to “protect the country’s security and interests, as well as fulfill international obligations, including avoiding raising costs.”
China had already imposed a 67% tariff on goods from the U.S., meaning the new tariff brings it to a total of 101%.
On Friday, President Donald Trump criticized China via his Truth Social platform, stating that China had “lost its way” and was “losing control.”
In addition to increasing tariffs on U.S. goods, Beijing has also announced that it has formally written to the World Trade Organization (WTO) to oppose the recent decision made by President Donald Trump.
