China strikes back with 125% tariffs on U.S. goods as trade war intensifies
Last edited Fri Apr 11, 2025, 07:34 AM - Edit history (1)
Source: CNBC
Published Fri, Apr 11 2025 4:12 AM EDT | Updated 2 Hours Ago
China on Friday retaliated against U.S. President Donald Trump’s reciprocal tariffs by raising its levies on U.S. goods to 125% from 84%, the Chinese finance ministry said. “Even if the U.S. continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of world economy,” the ministry said in a statement, according to a CNBC translation.
“With tariff rates at the current level, there is no longer a market for U.S. goods imported into China,” the statement noted, adding that “if the U.S. government continues to increase tariffs on China, Beijing will ignore.”
The Trump administration confirmed to CNBC on Thursday that the U.S. tariff rate on Chinese imports now effectively totals 145%. Trump’s latest executive order boosted reciprocal tariffs on Beijing to 125%, stacked on top of a combined 20% fentanyl-related tariff imposed in February and March.
“This is the end of the escalation in terms of bilateral tariff rates. Both China and the US have sent clear messages, there is no point of raising tariffs further,” said Zhiwei Zhang, president and chief economist at Pinpoint Asset Management. The next step would be to evaluate the damage to economic activities in the U.S. and China, Zhang said, adding that there is no sign that the two governments would start negotiations and avoid major disruption in the global supply chains.
Read more: https://www.cnbc.com/2025/04/11/china-strikes-back-with-125percent-tariffs-on-us-goods-starting-april-12.html
Article updated.
Previous articles/headline -
China on Friday retaliated against U.S. President Donald Trump's reciprocal tariffs by raising its levies on U.S. goods to 125% from 84%, the Chinese finance ministry said. s (sic) "Even if the U.S. continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of world economy," the ministry said in a statement, according to a CNBC translation.
"With tariff rates at the current level, there is no longer a market for U.S. goods imported into China," the statement noted, adding that "if the U.S. government continues to increase tariffs on China, Beijing will ignore."
The Trump administration confirmed to CNBC on Thursday that the U.S. tariff rate on Chinese imports now effectively totals 145%. Trump's latest executive order boosted reciprocal tariffs on Beijing to 125%, stacked on top of a combined 20% fentanyl-related tariff imposed in February and March.
Despite the latest escalation, a spokesperson of China's commerce ministry reiterated in a separate statement Friday that Beijing is open to negotiate with the U.S. on an equal footing. Hopes for a U.S.-China deal to resolve trade tensions have faded fast as Beijing has been hitting back in the last week with tit-for-tat duties on American goods and wide-ranging restrictions on U.S. businesses.
Published Fri, Apr 11 2025 4:12 AM EDT Updated 5 Min Ago
China on Friday retaliated against U.S. President Donald Trump's reciprocal tariffs by raising its levies on U.S. goods to 125% from 84%, according to a statement from the Customs Tariff Commission of the State Council.
"Even if the U.S. continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of world economy," the statement said, according to a CNBC translation.
"With tariff rates at the current level, there is no longer a market for U.S. goods imported into China," the statement said, adding that "if the U.S. government continues to increase tariffs on Chinese goods exported to the U.S., China will ignore." Trump administration confirmed to CNBC on Thursday that the U.S. tariff rate on Chinese imports now effectively totals 145%.
Hopes for a U.S.-China deal to resolve trade tensions have faded fast as Beijing has been hitting back in the last week with tit-for-tat duties on American goods and wide-ranging restrictions on U.S. businesses.
Original article -
China has retaliated against the U.S. President Donald Trump's reciprocal tariffs by raising its levies on U.S. goods to 125% from 84%, Customs Tariff Commission of the State Council said in a statement on Friday, according to a government statement on Friday.
"Even if the U.S. continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of world economy," the statement said, according to a CNBC translation.
"If the US continues to impose tariffs on Chinese goods exported to the US, China will ignore it," it said.
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