China Raises Tariffs on US Goods to 125%, Vows to Fight Back Against US “Unilateral Bullying”

Beijing: In a significant move escalating tensions between the US and China, the Chinese Ministry of Finance announced on Friday that it had raised tariffs on US imports from 84% to 125%. The new tariff hike comes in response to the US imposing what China views as unfairly high tariffs on its goods, a move Beijing says violates international trade laws and economic norms.

The Chinese finance ministry criticized the US, calling its tariff policy “abnormally high” and an example of “unilateral bullying and coercion.” A spokesperson for the ministry added, “If the US insists on continuing to infringe upon China’s interests in a substantive way, China will resolutely take countermeasures and fight to the end.”

This latest tariff increase follows a series of tariff escalations between the two economic giants, with the US President Donald Trump previously raising tariffs on Chinese goods to 104%. The US move was in retaliation to what Trump and his administration argue as unfair trade practices by China.

In response, Chinese President Xi Jinping also called on the European Union to join forces with China in resisting these unilateral actions. Xi urged for collaboration to counter the “bullying” practices of the US, particularly in light of the tariff war sparked by Trump’s policies.

The tariff dispute has had a dramatic impact on global markets, with major US-listed exchange-traded funds tracking Chinese stocks experiencing significant selloffs. Bloomberg reported that nearly $1 billion worth of shares were offloaded in just one day, highlighting the growing global uncertainty stemming from the worsening relations between the two countries.