China raises tariffs to 125% after Trump's 145% hike
China has announced a tariff hike on U.S. imports to 125%, just one day after U.S. President Donald Trump increased tariffs on Chinese goods to 145%.
According to The Guardian, China raised its tariffs just hours after President Xi Jinping stated that "there are no winners in a trade war."
Xi Jinping made these remarks during a meeting with the Prime Minister of Spain, where he urged the European Union to collaborate with China in resisting "bullying," part of an ongoing effort to strengthen relationships with other trade partners.
As a result, China's Ministry of Commerce announced on Friday that it is increasing tariffs on all U.S. imports from 84% to 125%, reiterating that China is ready to "fight to the end." The statement also implied that this could be Beijing's final move in the ongoing series of reciprocal tariff hikes, as "at the current tariff levels, there is no market for U.S. goods exported to China."
Chinese officials consulted with trade partners on how to handle the tariffs imposed by the U.S., after China was excluded from the 90-day freeze on Trump's steepest global tariffs. In contrast, the U.S. President has imposed consecutive tax hikes on imports from China, now set at 145%.
On Friday, Xi Jinping welcomed Pedro Sánchez of Spain, having also met with counterparts from Saudi Arabia and South Africa. According to the official Chinese summary of the discussions, Xi stated, "There will be no winners in a trade war, and going against the world means isolating oneself," apparently referring to the U.S.
Recently, Donald Trump has announced a 90-day suspension of reciprocal tariffs. These will be set at ten percent for most countries, except for China, where they will remain at 125%.
Translation by Iurie Tataru
