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Beijing’s retaliation came after the White House ratcheted up its tariff on Chinese goods to 125 percent, on top of an existing 20 percent tax.
China on Friday said it was raising its tariffs on American goods to 125 percent, retaliating for the third time in the escalating trade war between the two superpowers.
The brinkmanship between President Trump and Xi Jinping, China’s top leader, threatens to rip apart trade ties between the world’s two largest economies after years of simmering tensions.
China accompanied its announcement of the higher levies, which take effect on Saturday, with a mocking statement calling Mr. Trump’s tariff policies “a joke.”
The announcement by the State Council, China’s cabinet, followed a clarification on Thursday by the Trump administration that Chinese goods imported to the United States now face a minimum tariff rate of 145 percent.
April 9
145%
The Tit-for-Tat Tariffs Between the U.S. and China
President Trump raised tariffs on Chinese
goods multiple times this year, reaching 145%.
April 8
104%
March 26
April 2
Feb. 10
54%
25% on steel
and aluminum
March 3
Feb. 1
20%
10% on all goods
April 11
125%
China refrained at first from retaliating with force, but as Mr. Trump kept going, China responded to his “reciprocal” tariffs with equivalent levies.
April 9
84%
Feb. 4
March 4
April 4
34%
10% on U.S. food and agricultural products
10% on natural gas, coal and farm machinery
The Tit-for-Tat Tariffs Between the U.S. and China
April 9
145%
President Trump raised tariffs
on Chinese goods multiple
times this year, reaching 145%.
April 8
104%
March 26
April 2
54%
Feb. 10
25% on steel
and aluminum
March 3
20%
Feb. 1
10% on all goods
April 11
125%
China refrained at first from retaliating with force, but as Mr. Trump kept going, China responded to his “reciprocal” tariffs with equivalent levies.
April 9
84%
April 4
34%
Feb. 4
March 4
10% on natural
gas, coal and farm machinery
10% on U.S. food
and agricultural products
Over the past two weeks, China and the United States have been engaged in a fast-moving tit-for-tat that has resulted in ever-higher barriers to trade, churning markets and threatening economies around the world.