RT.com
09 Apr 2025, 23:17 GMT+10
The decision comes shortly after Beijing retaliated against Washingtons previous tariff rise
US President Donald Trump has raised the tariffs on Chinese goods to 125% in response to retaliatory measures imposed by Beijing earlier on Wednesday.
In a post on his Truth Social platform, Trump wrote that "based on the lack of respect that China has shown to the World's Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately."
He expressed hope that Beijing would realize that "ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable."
The move came hours after China's Finance Ministry announced a tariff hike of its own, which brought tariffs levied on American imports to a total of 84%, thus mirroring Washington's previous increase by 50%.
READ MORE: China imposes extra 84% tariff on US goods
The continual tit-for-tat escalation of the trade war between the world's two top economies was set in motion when Trump imposed a 20% tariff on all Chinese goods in March. Last week, he added an additional 34%, to which Beijing responded in kind.
DETAILS TO FOLLOW
(RT.com)
Get a daily dose of Hong Kong Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Hong Kong Herald.
More InformationBEIJING, China -- The Communist Party of China has launched a four-month campaign to urge its around 100 million members to bolster...
MANILA, Philippines: A Philippine security official stated that acquiring F-16 fighter jets from the United States will not harm any...
TOKYO, Japan: U.S. Defense Secretary Pete Hegseth said Japan is essential for handling China's aggression, especially in the Taiwan...
Beijing [China], April 9 (ANI): China's Ministry of Culture and Tourism on Wednesday issued a risk alert for Chinese citizens planning...
The decision comes shortly after Beijing retaliated against Washingtons previous tariff rise US President Donald Trump has raised...
Theyre messy, risky, and unpopular but they might be part of a bigger, smarter plan Let me play devil's advocate for a minute. I'm...
AUSTIN, Texas: Attorney General Ken Paxton announced over the weekend that the state has launched an investigation into a company,...
LONDON, U.K.: Jaguar Land Rover has become one of the first major carmakers to pause exports to the United States in response to the...
WASHINGTON, D.C.: The Centers for Medicare & Medicaid Services (CMS) says it will not go ahead with a plan from the Biden administration...
NEW YORK, New York - U.S. stocks tumbled again on Tuesday, igniting fear of the fallout from U.S. President's Donald Trump's trade...
TOKYO, Japan: Nissan may soon make a strategic shift in its manufacturing operations, according to a new report from Japan's Nikkei...
PARIS, France: A spike in vegetable oil costs helped steady global food prices in March, offsetting declines in other staples like...