Beijing (TDI): China will raise the additional tariffs on products imported from the United States to 125%, effective from Saturday, the Customs Tariff Commission of the State Council announced Friday.
The announcement follows the US move to raise the “reciprocal tariffs” on Chinese imports to 125%.
The commission stated that the United States’ excessively high tariffs on China blatantly violate international trade norms, defy basic economic laws, and amount to unilateral bullying and coercive tactics.
Even if Washington imposes even higher tariffs, it would no longer make economic sense and ultimately go down as a joke in world economic history, the commission said.
“Given that it’s already impossible for the Chinese market to accept US imports at the current tariff level, if Washington imposes further tariffs on Chinese products, China will ignore it,” it added.
However, should the US persist in substantially undermining Beijing’s interests, China will take firm countermeasures and fight to the end, the commission warned.
Read More: China Hits Back with 84% Tariffs on US Goods
It is to be mentioned here that US President Donald Trump has announced to halt reciprocal tariffs for most countries for a period of 90 days. However, the pause does not apply to China, and the US has instead raised tariffs on China to 125% from 104% which took effect at midnight.
On Thursday, the Ministry of Foreign Affairs of China announced to impose 84% retaliatory tariffs on the United States.
The country has vowed to fight “till the end” against the unjust tariffs imposed by the United States and has already filed two cases against the US in the World Trade Organization (WTO).
Read More: No Desire for Trade War, But Not Afraid: China
Discussing the reason for the 90-day pause on tariff imposition, the US President commented that more than seventy five US trade partners did not retaliate and had instead reached out to the United States to negotiate a solution.
