China announced today (Wednesday) that it would raise tariffs on American imports by a further 50% in retaliation for the US raising its tariffs on Chinese imports by the same degree.
The move raises Chinese tariffs on American imports to 84%.
The Chinese Commerce Ministry vowed to “fight to the end” in the ongoing trade war with the US. “If the US insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end." the ministry stated.
Yesterday, the White House announced that the US would raise tariffs on Chinese imports by another 50% to 104%, fulfilling US President Donald Trump's ultimatum to further raise tariffs if China did not rescind its initial retaliation tariffs.
Last week, Trump introduced new tariffs on imports, imposing a minimum 10% duty on nearly all goods entering the United States. Additionally, certain countries with significant trade deficits with the US are facing even steeper tariffs.
Under the new framework, all imports—excluding those from Mexico and Canada that comply with the USMCA agreement—will be subject to the 10% baseline tariff starting this Saturday at 12:01 a.m. ET. Non-compliant goods from USMCA member nations will continue to face a 25% tariff.
Treasury Secretary Scott Bessent responded to the Chinese tariffs in a statement to Fox Business Network that the Chinese move did not overly concern him and that China could not win its trade war with the US.
“I think it’s unfortunate that the Chinese actually don’t want to come and negotiate, because they are the worst offenders in the international trading system,” Bessent said. “They have the most imbalanced economy in the history of the modern world, and I can tell you that this escalation is a loser for them.”