Beijing [China], April 9 (ANI): In a retaliatory move, China on Wednesday announced it will increase its tariff on US goods from 34 per cent to 84 per cent starting April 10, Al Jazeera reported.
The decision comes after the United States increased tariffs on China to a whopping 104 per cent, following US President Donald Trump’s threat of “additional 50 per cent tariffs” on Beijing starting Wednesday.
Trump had announced an additional 50 per cent tariff on China after Beijing announced 34 per cent tariff on the United States in tit-for-tat response.
Trump had said if China did not withdraw its 34 per cent increase in 24 hours, the United States would impose additional tariffs and all talks with China concerning their requested meetings will be terminated.
The 50-point rise in tariff by China mirrors the additional 50 per cent tariff introduced by the US.
Beijing announced the tariffs after the White House on Tuesday (local time) announced the imposition of a 104 per cent tariff on China starting Wednesday, marking a significant escalation amid the tariff tension which have shaken the markets.
During a press briefing, White House Press Secretary Karoline Leavitt emphasised that it was a “mistake” for China to retaliate against the US, asserting that when America is challenged, the response is forceful and unyielding.
“It was a mistake for China to retaliate. When America is punched, He punches back harder. That’s why there will be 104 per cent tariffs going into effect on China tonight… If China reaches out to make a deal, he will be incredibly gracious,” Leavitt declared.
Leavitt stated that the new tariffs come as part of an ongoing effort by the Trump administration to address what it deems unfair trade practices that have led to job losses and economic strain on American workers. She sharply criticised China’s trade policies, accusing the nation of exacerbating economic issues for American workers.
“President Trump made it very clear that the era of American economic surrender is over. President Trump is no longer going to allow American workers and companies to be ripped off at the hands of foolish trade practices that shift away millions of high-paying jobs and hollow out communities across the country,” the White House Press Secretary said.
“Countries like China, who have chosen to retaliate and try to double down on their mistreatment of American workers, are making a mistake. President Trump has a spine of steel, and he will not break, and America will not break under his leadership,” she added.
Leavitt further stated that there was no consideration made by President Trump on either “extension or delay” of the tariffs but that he “is willing to pick up the phone and talk.”She noted that “since the Liberation Day announcement, nearly 70 countries have already reached out to the president to begin a negotiation.”
She also mentioned that Trump has directed his trade team to have “tailor-made trade deals with each and every country that calls up this administration to strike a deal.”Leavitt also discussed the broader strategy behind the tariffs, explaining that the tariffs were focused not only on monetary tariffs imposed by other nations on US goods but also on non-monetary barriers that hinder American trade.
“The reciprocal tariff rates that were implemented by country were focused on the monetary tariff that those countries have imposed on the US but also the non-monetary tariff barriers,” she added.
Earlier on Sunday, Trump threatened an additional 50 per cent hike in tariffs on China following Beijing’s 34 per cent retaliatory tariff hike after Trump’s announcement of reciprocal tariffs during Liberation Day on April 2.
China decried the US tariffs imposed on the country as “groundless” and called them a unilateral bullying practice, as per a spokesperson from China’s Ministry of Commerce. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
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