China slaps US with 84 per cent retaliatory tariffs
China has retaliated against the United States and is set to impose 84 per cent tariffs on US imports, up from 34 per cent.
The announcement was made on Wednesday after the Trump tariffs of 104 per cent on Chinese imports were put in place.
China’s tariff increase will be effective from April 10.
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By continuing you agree to our Terms and Privacy Policy.Reuters reported that China would also add six US companies to its list of unreliable entities.
These include American Photonics and Novotech.
China’s retaliation demonstrates the escalating trade war between the two great powers, where both countries seem unrelenting to back down.
Chinese officials previously vowed to “fight to the end” in the face of new threats from President Trump.
Mr Trump claims high US tariffs are aimed at countries that are “ripping off” the United States.
Beijing told the World Trade Organisation on Wednesday that the tariffs imposed by the US were dangerous and could destabilise global trade.
Reuters reported they received the statement China sent to the World Trade Organisation, which said: “The situation has dangerously escalated. As one of the affected members, China expresses grave concern and firm opposition to this reckless move.”.
“While China opposes trade wars, it will firmly defend its legitimate interests.”
Earlier on Wednesday, China’s State Council Information Office released a white paper regarding China’s position on trade with the US.
“The US side has failed to meet its obligations under the phase one economic and trade agreement,” the statement said.
“China upholds the principle of free trade and strictly complies with WTO rules.”
