Lu Zhenhua

1 week ago | caixinglobal.com | Lu Zhenhua

China announced on Friday that it was raising its retaliatory tariff on U.S. goods from 84% to 125% in response to President Donald Trump’s latest round of tariff hikes. This move could be China’s last countermeasure in its ongoing trade war with Washington. In a statement, China’s Finance Ministry said it will “ignore” any future tariff hikes from the U.S., saying there would be no “market acceptance” in China for American goods at the current tariff level.

2 weeks ago | caixinglobal.com | Lu Zhenhua

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x U.S. President Donald Trump and his Treasury Secretary Scott Bessent have been boasting that 75 of their trading partners reached out to the White House hoping to cut a deal in face of the U.S.’s “reciprocal tariffs.” Clearly, China is not one of them.

2 weeks ago | caixinglobal.com | Lu Zhenhua

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x It should not come as a surprise that China didn’t blink. Two and half hours before the opening of the U.S. stock markets on Wednesday, China announced its tit-for-tat countermeasures against President Donald Trump’s last-minute hike of tariffs on all Chinese imports. It imposed a 50% increase in its retaliatory levy on all U.S. goods, bringing up the total tariff to 84%.

2 weeks ago | caixinglobal.com | Lu Zhenhua

Explore the story in 3 minutes[para. 1] Late at night in Beijing and during the morning hours in Washington, U.S. President Donald Trump announced an additional 50% tariff on Chinese imports in retaliation to China's 34% levy on American imports. This new measure was an escalation in response to the ongoing economic standoff where both countries had previously imposed 34% tariffs on each other's goods. If enacted, this would push total U.S. tariffs on Chinese imports to over 100%. [para.

2 weeks ago | caixinglobal.com | Lu Zhenhua

In response to U.S. President Donald Trump's announcement of unilateral tariffs labeled as “Liberation Day,” China imposed a set of retaliatory measures, matching Trump's 34% tariffs on U.S. goods with equivalent tariffs on Chinese imports. This move marks China as the first trade partner to counter the U.S. tariffs, while Canada and the European Union consider similar responses[para. 1].