The lastest round of U.S. tariffs, including a 104-percent blanket duty on Chinese goods, when into effect Wednesday.
A Chinese commentator affiliated with state media has outlined a number of possible countermeasures Beijing could take if President Donald Trump proceeds with another round of sweeping tariffs on Chinese goods.
China’s Foreign Ministry has vowed to « fight to the end », promising a strong response after initially reacting with more measured steps to last month’s U.S. tariff hikes.Why It Matters
A new wave of U.S. tariffs on goods from dozens of countries took effect at 12:01 a.m. Wednesday Eastern Time, intensifying global trade uncertainty. Among them was a 104-percent duty on all Chinese imports—up from the 54-percent rate Trump had announced earlier—after China warned it would retaliate.
Newsweek reached out to China’s Ministry of Foreign Affairs and the White House with emailed requests for comment.What To Know
Trump first launched a trade war with China during his first term, placing tariffs on hundreds of billions of dollars’ worth of Chinese goods. Those remained in place under Joe Biden’s administration. Tariffs are import taxes, typically passed onto U.S. consumers in the form of higher prices.
The latest tariff hike follows Trump’s earlier decision to impose a 20-percent blanket charge on Chinese products, citing the need to stop the flow of fentanyl ingredients.
