China is set to increase additional tariffs on imported products from the United States to 125% starting this Saturday, according to an announcement by the Customs Tariff Commission of the State Council on Friday.
This move comes in response to the United States raising “reciprocal tariffs” on Chinese imports to the same rate. The commission stated that the U.S. imposition of excessively high tariffs on China seriously violates international economic and trade rules, goes against basic economic laws and common sense, and is considered unilateral bullying and coercion.
“Even if the U.S. imposes even higher tariffs, it would no longer make economic sense and ultimately go down as a joke in world economic history,” the commission remarked.
The commission further noted, “Given that it’s already impossible for the Chinese market to accept U.S. imports at the current tariff level, if the United States imposes further tariffs on Chinese products, China will ignore it.”
However, the commission emphasized that should the U.S. persist in substantially undermining China’s interests, the Chinese mainland will take firm countermeasures and is prepared to fight to the end.
