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China has raised tariffs to 84 per cent on goods coming from the US in an additional countermeasure.
Last week, China said it would levy 34 per cent tariffs on all US goods.
On Wednesday, Trump’s tariffs of 104 per cent went into effect on Chinese exports to the US.
Earlier today, China again vowed to “fight to the end” against the US president’s tariffs, arguing that trade between the two countries was in balance as the 104 per cent tax on the country’s exports to the US came into effect.
The Chinese government declined to say whether it would negotiate with the White House, as many other countries have started doing.
“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 of Commerce wrote in a statement introducing the white paper.
Last Friday, China announced a 34 per cent tariff on all goods imported from the US, export controls on rare earths minerals, and a slew of other measures in response to Trump’s “Liberation Day” tariffs. Trump then added an additional 50 per cent tariff on goods from China, saying negotiations with them were terminated.