April 11, (THEWILL) – China has jerked tariffs on all United States imports to 125% from 84% in response to President Trump’s 145% tariffs on all Chinese imports, as the trade between the two economic giants unsettles global trade and economies.
Declaring its new tariffs would take effect on Saturday, Chinese finance ministry said on Friday that “even if the U.S. continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of world economy.
“With tariff rates at the current level, there is no longer a market for U.S. goods imported into China. If the U.S. government continues to increase tariffs on China, Beijing will ignore.”
Despite the latest escalation, a spokesperson of China’s commerce ministry, said Beijing is open to negotiate with the U.S. on an equal footing.
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