China and the US have entered a full-scale tariff war. Beijing has imposed an additional 50% tariff on American imports on the same day that a 104% tariff on its goods sold in the United States took effect.
The Chinese tariffs will take effect on Thursday, the country’s finance ministry said. The new 50% tariff is in addition to the 34% that Beijing had imposed in response to a similar tariff announced against China by US President Donald Trump on April 2. It corresponds to the 50% tariff that Trump had added after Beijing’s response. Now, the US will impose 104% tariffs on Chinese imports, while China will impose 84% tariffs on American imports.
Washington is making one mistake after another, Chinese authorities said this week, vowing to fight to the end. In a complaint to the World Trade Organization (WTO), they said the US actions risked further destabilizing global trade. The situation has become dangerously tense. As one of the affected WTO members, China expresses serious concern and resolutely opposes this unwise move, China said in a statement.