China announced it will raise tariffs on US imports to 84 percent, a significant increase from the current 34 percent, effective Thursday.
This move by Beijing comes just hours after the United States’ own increased tariffs on Chinese goods took effect.
US President Donald Trump’s latest round of tariffs, including a substantial 104 percent duty on many Chinese products, came into force on Wednesday, impacting numerous trading partners.
Beijing has consistently opposed such tariff hikes and stated its intention on Wednesday to take “firm and forceful” measures to protect its own economic interests.
Subsequently, the Chinese finance ministry issued a statement declaring that “additional tariff rates” on goods originating from the United States would “rise from 34 percent to 84 percent,” starting at 12:01 pm on Thursday.
The ministry asserted that the US’s escalating tariffs against China were “simply piling mistakes on top of mistakes” and severely harmed China’s “legitimate rights and interests.”
Furthermore, Beijing stated that Washington’s actions “severely damage the multilateral rules-based trade system.”
In a separate announcement, China’s commerce ministry revealed it would blacklist six American artificial intelligence firms, including Shield AI Inc. and Sierra Nevada Corp.
The ministry explained that these companies were being penalized for either selling arms to Taiwan or collaborating with the island on “military technology.”
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