China announced on Friday that it would implement countermeasures by increasing tariffs on US goods from 84% to 125%, effective Saturday.
The move comes amid an escalating trade war, as the US and China continue to raise tariffs.
US President, Donald Trump, however, has paused tariffs for other countries.
The total tariffs imposed by Trump on China now stand at 145%.
When Trump declared on Wednesday that China would face tariffs of 125%, he did not factor in a 20% tariff tied to China’s role in fentanyl production.
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In response, a spokesperson for China’s Commerce Ministry stated, “The US alternately raising abnormally high tariffs on China has become a numbers game, which has no practical economic significance, and will become a joke in the history of the world economy.
“However, if the US insists on continuing to substantially infringe on China’s interests, China will resolutely counter and fight to the end.”
Additionally, China’s Commerce Ministry confirmed it was filing another lawsuit with the World Trade Organization (WTO) regarding the US tariff increases.
(MSN)
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