Back-and-Forth Tariffs: China Retaliates with 84% Tariffs on US Goods in Ongoing Tussle

Beijing (The Uttam Hindu): China has announced retaliatory tariffs of 84% on US imports, escalating the trade war between the two global economic powerhouses. This move comes in response to US President Donald Trump's "reciprocal" tariffs, which took effect earlier, imposing a levy of at least 104% on Chinese goods.

Key Developments:

Tariff Increase: China increased its intended levy on US imports by 50 percentage points, matching the additional charge imposed by the US on Chinese goods.

Affected Products: US agricultural products, such as soybeans, corn, wheat and cotton will face 10-15% retaliatory tariffs.

Export Controls: China imposed export controls on 12 American companies and added six more US firms to its "unreliable entity list", banning them from trading or investing in China.

WTO Complaint: China filed a complaint with the World Trade Organization over the latest US tariffs.

China's Stance:

China's State Council Tariff Commission stated that the US escalation of tariffs is a "mistake upon mistake", infringing on China's legitimate rights and interests and damaging the multilateral trading system.

China urges the US to cancel its unilateral tariff measures and resolve trade differences through consultation.