Trade Tensions Escalate: China's Retaliatory Tariffs Hit Record High
China increased its tariffs on US imports to 125% in response to the US's 145% levies on Chinese goods. This move, announced by China's Commerce Ministry, includes a lawsuit with the WTO. Previously at 84%, China's latest tariff retaliation is a direct counter to Trump's trade policies.
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On Friday, China escalated its trade confrontation with the United States by raising additional tariffs on US imports to 125%, a sharp increase from 84%, following the Trump administration's implementation of 145% tariffs on Chinese exports.
The announcement from the Chinese Commerce Ministry signifies a significant enforcement of protectionist measures, with China filing a World Trade Organization lawsuit in response to the US tariff hikes.
China's decisive action of increasing tariffs is a strategic maneuver to encourage dialogue with Washington, being the sole nation to retaliate against Trump's aggressive tariff policies, while also restricting certain US imports, including films.
(With inputs from agencies.)
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