US imposes 104% tariff on China, White House says
Photo: US President Donald Trump and Chinese leader Xi Jinping (Getty Images)
The United States has raised the import tariff on Chinese goods to 104%, according to Fox News correspondent at the White House, Edward Lawrence.
It is noted that the tariffs will come into effect because China did not lift its retaliation in response to US demands. As of April 9, Beijing will be subject to a 104% tariff.
Trump's trade war
Last week, US President Donald Trump imposed tariffs ranging from 10% to 50% on imports of various goods from most countries worldwide. This decision negatively impacted global stock markets.
At that time, the United States imposed a 34% tariff on imports from China. In response, Beijing announced it would implement a similar 34% tariff on American imports.
Subsequently, Trump increased tariffs on Chinese imports from 34% to 50%. The Chinese Embassy in the US responded by stating that pressure or threats toward China were an incorrect way of engagement. China also criticized the new tariffs for causing a decline in global markets and called for consultations with the US.
Today, it has been reported that China has vowed to "fight to the end" if Trump follows through on his threat to raise tariffs to 50%.
"The US side's threat to escalate tariffs against China is a mistake on top of a mistake, once again exposing the American side's blackmailing nature. If the United States insists on having its way, China will fight to the end," the Chinese commerce ministry said in a statement.
Media reports also mention that Chinese President Xi Jinping will meet with Spanish Prime Minister Pedro Sánchez this week. They are expected to discuss resolving trade tensions between Beijing and Brussels over the export of Chinese electric vehicles, as well as the broader impact of Trump's tariffs.
