- By Ajeet Kumar
- Fri, 11 Apr 2025 02:05 PM (IST)
- Source:JND
China on Friday increased its tariffs on US imports to 125 per cent, hitting back against US President Donald Trump's decision to hike duties on Chinese goods to 145 per cent, raising the stakes in a trade war that threatens to up-end global supply chains. Earlier today, Chinese President Xi Jinping said his nation is "not afraid", in his first public comment on the escalating trade war with the United States.
The hike comes after the White House kept the pressure on the world's No.2 economy and second-biggest provider of US imports by singling it out for an additional tariff increase, having paused most of the "reciprocal" duties imposed on dozens of other countries. "The US imposition of abnormally high tariffs on China seriously violates international and economic trade rules, basic economic laws and common sense and is completely unilateral bullying and coercion," China's Finance Ministry said in a statement.
China filed complaint in WTO
China's mission to the World Trade Organization said on Friday it had filed an additional complaint to the trade body over US tariffs. "On 10 April, the United States issued the Executive Order, announcing a further increase of the so-called 'reciprocal tariff' on Chinese products. China filed a WTO complaint against United States' latest tariff measures," the statement from
China's mission said, citing a ministry of commerce spokesperson.
Global market falls
Asian indices mostly followed Wall Street lower on Friday. In Europe, China's latest tariff hike sent stocks lower, leaving the STOXX 600 down more than 1% on the day and set for another drop this week, one of its most volatile on record. Bessent shrugged off the renewed market turmoil on Thursday and said striking deals with other countries would bring certainty. The US and Vietnam have agreed to begin formal trade talks, the White House said.
The Southeast Asian manufacturing hub is prepared to crack down on Chinese goods being shipped to the United States via its territory in the hope of avoiding tariffs. Japanese Prime Minister Shigeru Ishiba, meanwhile, has set up a trade task force that hopes to visit Washington next week. CHINA DEAL? As Trump suddenly paused his 'reciprocal' tariffs on other countries hours after they came into effect earlier this week, he ratcheted up duties on Chinese imports as punishment for Beijing's initial move to retaliate. He has now imposed new tariffs on Chinese goods of 145 per cent since taking office, a White House official said.
