China hits back: Tariff on US goods to soar to 84% soon

China has announced plans to significantly raise its tariff on US goods from 34 per cent to 84 per cent, effective April 10.

This increase, a sharp 50-point rise, is a direct response to the US recent decision to impose a 50 per cent tariff on Chinese imports, bringing its total tariff on Chinese goods to 104 per cent, Caliber.Az reports via foreign media.

On April 2, US President Donald Trump announced sweeping trade measures: a 10 per cent tariff will be imposed on all products imported into the US. The tariff for the EU has been increased to 20 per cent, while for China, it has been raised to 34 per cent. In his speech, the president declared April 2 as the day Americans would become wealthy again.

On April 4, China imposed its own 34 per cent tariff on US goods in retaliation. On April 8, US authorities raised the import tariffs on Chinese goods to 104 per cent, following China’s refusal to remove its retaliatory measures. The next day, the Chinese Ministry of Foreign Affairs announced that the government would take decisive action in response to the 104 per cent tariffs imposed by Trump.

By Naila Huseynova