China has once again imposed more tariffs on American products in response to Donald Trump’s unbridled trade war.
According to a global news agency, China has increased the tax rate on goods imported from the United States to 125 percent.
China’s Customs Tariff Commission has confirmed that the further increase in taxes was made in response to the United States raising tariffs on Chinese products to 145 percent.
It should be noted that China had previously imposed tariffs of up to 84 percent on American products.
The Tariff Commission says that American products have lost their competitiveness in the Chinese market and warned that if Washington continues to increase tariffs, it will become “a joke in global economic history.”
On the other hand, US Treasury Secretary Scott Besant called China the biggest culprit in global trade and predicted that China’s response would be detrimental to it.
Meanwhile, China is also facing an internal economic slowdown. Goldman Sachs on Thursday cut its 2025 GDP forecast for China to 4 percent, citing weak global demand and trade tensions.
The bank added that 20 million Chinese workers could be affected by the decline in US exports.
Earlier this week, US President Donald Trump announced a temporary reduction in new heavy duties imposed on several countries.
However, maintaining a tough stance against China, the US president announced an increase in tariffs on Chinese imports from 104 percent to 125 percent.
According to the White House, although temporary exemptions have been granted for some countries, the general duty of 10 percent will remain in effect on all US imports.
