China will increase additional tariffs on US imported products to 125% starting on Saturday, the Council of State Customs Commission said on Friday (12). The measure is a direct response to the US movement, which announced equivalent elevation of tariffs on Chinese imports.
In a statement, the commission stated that the imposition of excessive tariffs by Washington “seriously violates the rules of international trade,” contradicts basic economic laws and represents “a typical act of unilateral bullying and coercion.”
Also on Friday, the China Ministry of Commerce stated that the United States should take full responsibility for unilateral tariff measures, which have been causing “serious disturbances in the world economy, global markets and the multilateral trade system.”
Although Beijing remains open to dialogue, the authorities emphasized that “threats and pressures are not the right way to deal with China.” The Commission warned that, given the current tariff level, the Chinese market is no longer able to absorb US imports. “If the US insisted on substantially undermining China’s interests, we will respond with firm counterattacks and fight to the end,” the statement concluded.
Source: https://www.chinahoje.net/china-anuncia-aumento-de-tarifas-sobre-produtos-dos-eua-para-125-a-partir-de-sabado/
