China Strikes Back, Raising Tariffs on US Goods From 84% to 125%
China on Friday struck back at President Trump’s latest tariff hike, raising its own rate on the US to 125% as it mocked his trade policy as a “joke” in a scathing statement.
The nation’s move to raise its tariff on US imports from 84% to 125% marks its third retaliation as tensions between the two trade partners escalate.
“The US alternately raising abnormally high tariffs on China has become a numbers game, which has no practical economic significance, and will become a joke in the history of the world economy,” a spokesperson for China’s Commerce Ministry said in a statement.
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