Retaliation Strikes: China Doubles Tariffs Against U.S.

China is poised to respond to the U.S. tariff war with reciprocal measures. Beijing will increase its tariffs against the United States twofold—from 34% to 84%. This decision will take effect starting tomorrow and comes as a direct response to the White House imposing an import fee of 104% on Chinese goods.

Donald Trump, President of the United States:

"They don’t want tariffs imposed against themselves. It’s quite simple. We’re making deals; people pay tariffs; countries pay tariffs. Right now, China is facing a 104% tariff. Just think about that—104%. It sounds absurd, but for many goods, we’ve been charged 100% or even 125%. This has been the case in numerous countries. They’ve been ripping us off left and right. But now it’s our turn to do the same."

In the U.S. Congress, there are intentions to roll back Trump’s global tariffs. The corresponding bipartisan resolution is being introduced for consideration by Democratic Senator Ron Wyden.