China Raises Tariffs on US Goods from 84% to 125%

China announced today that it will increase tariffs on US goods from 84% to 125%, indicating that it will ignore any additional tariffs imposed by the US administration.

The Customs Tariff Commission of the State Council in Beijing said in a statement published by the Ministry of Finance that “the US imposition of abnormally high tariffs on China seriously violates international trade rules and basic economic laws.”

The new tariffs will take effect on Saturday, April 12, according to Agence France-Presse (AFP).

Chinese state media reported that Beijing has filed a complaint with the World Trade Organization against the new tariffs.

For his part, the Chinese Finance Minister said that the US tariffs go against basic economic laws and common sense.

He added that Beijing will fight to the end if the US insists on continuing to violate China’s interests, stressing that if Washington continues to impose additional tariffs, his country will ignore them.