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China raises its retaliatory tariff on US goods from 34% to 84% (www.lemonde.fr)

submitted 1 month ago by misk@sopuli.xyz to c/news@beehaw.org

9 comments fedilink hide all child comments

China's Finance Ministry announced that, in reponse to US tariffs on imported Chinese goods being raised to 104%, it would raise its own tariffs on American products, effective Thursday, April 10.

China's Finance Ministry announced on Wednesday, April 9, that it was imposing additional tariffs on American products, increasing them "from 34% to 84%," in an additional countermeasure to a further increase in US tariffs on imported Chinese products, announced by Donald Trump on Tuesday. On Wednesday, Trump's total 104% tariff rate on Chinese exports to the US went into effect.

"The US's practice of raising tariffs on China is a mistake on top of a mistake, which seriously infringes on China's legitimate rights and interests and seriously harms the rules of the multilateral trading system," the ministry announced in a statement. It added that the increase would take effect from 12:01 pm on Thursday, April 10.

Last week, China had said it would levy 34% tariffs on all US goods in response to Trump's announcement of tariffs on countries around the world.

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[–] TranquilTurbulence@lemmy.zip 17 points 1 month ago (1 children)

How to say you want the rest of the world to effectively launch a trade embargo against your country without explicitly saying so.

[–] SomeoneSomewhere@lemmy.nz 7 points 1 month ago (1 children)

Are you talking about China or the US there?

[–] TranquilTurbulence@lemmy.zip 18 points 1 month ago

Trump slapped a bunch of tariffs on pretty much everyone except Russia. He is begging for other countries to respond accordingly.

[–] Zedstrian@lemmy.dbzer0.com 15 points 1 month ago (1 children)

Why aren't they matching the 104%?

[–] misk@sopuli.xyz 30 points 1 month ago (1 children)

Going by game theory the most successful tactic in general is responding to escalation but not matching or exceeding it. It signals will to deescalate. China has other tools to put pressure on the US too (selling US debt).

[–] vk6flab@lemmy.radio 18 points 1 month ago (1 children)

Doesn't China own a lot of USA assets that it could sell and cause all manner of mayhem with?

Seems to me that the USA is about to find out what it means to antagonise a country that isn't known for blinking.

[–] bluGill@fedia.io 8 points 1 month ago

China has been antagonising the world for a long time.

The rest of Trump's actions make no sense, but the world needs to cut China off anyway

[–] i_love_FFT@jlai.lu 4 points 1 month ago (1 children)

What do all numbers end with 4?

[–] kossa@feddit.org 1 points 1 month ago

I don't know whether that has to do with anything, but interesting trivia nonetheless: 4 is an unlucky number in China, because it sounds similar to "death".