In the latest trade back-and-forth, China has surged its tariff rate on US goods from 84% to 125%, at the same time saying it won’t negotiate if the U.S. continues to engage in ”trade blackmail.”
Starting on April 12, the Chinese government will raise tariffs on all U.S. goods by another 41%. This increase comes two days after the last increase, saw tariffs surge from 34% to 84%.
In a statement released by China’s State Council Tariff Commission, spotted by Bloomberg, China has declared that it will raise tariffs from 84% to 125%. It then said that because of the prohibitively high tariff level, there is no market for American goods.
Källa: China calls Trump’s trade war a joke, jumps tariffs on U.S. goods to 125%