China to raise tariffs on U.S. goods to 125%

China will raise additional tariffs on goods from the United States up to 125%. This is reported by TASS with reference to the Customs Tariff Committee of the State Council of China.

It is known that the tariff rate will be increased from April 12. It will apply to all imported goods from the United States. It is noted that this measure is taken as a response to protectionist actions of the American Administration.

As emphasized in the statement, Washington's abnormally high tariffs on PRC products are "a serious violation of international trade rules, basic economic laws and common sense ".

"Considering the current level of tariffs, the market is no longer able to accept U.S. goods supplied to the PRC, the Chinese side will not pay attention to further increases in U.S. tariffs on products from China," the report said.

On April 2, US President Donald Trump announced the imposition of tariffs on goods from more than 180 countries and territories. In relation to Beijing, this rate amounted to 34%. In response, China approved additional tariffs of 34% on all U.S. products starting April 10. Washington then promised Beijing 104% tariffs until the Chinese side agreed to a trade deal with the U.S. This led to countermeasures: China raised tariffs against the U.S. to 84%. In turn, Trump announced an immediate rate hike on Chinese goods to 125%.