China Raises Rates to 125% for US Goods, Calls US Tariffs 'Jokes'
China is raising tariff levels to 125% for U.S. origin goods in response to President Donald Trump's April 9 decision to raise tariffs to the same rate for Chinese goods (see 2504090043).
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The new rates take effect April 12, China's State Council Tariff Commission said, according to an unofficial translation. The commission added "at the current tariff level, there is no market acceptance for US goods exported to China."
A spokesperson for China's Ministry of Commerce said that U.S. tariffs have become "excessively high" and no longer have any "practical significance," according to an unofficial translation. They accused the U.S. of bullying, weaponizing tariffs, and "turning them into jokes." China will not raise rates further if the U.S. does, saying "if the U.S. continues to play the tariff numbers game, China will ignore it." However, if the U.S. continues to "infringe on China's rights and interests," then China will take unnamed countermeasures and "accompany it to the end."
The spokesperson pointed to a recent white paper published by its State Council (see 2504090034), saying that "there are no winners in trade wars, and there is no way out for protectionism." Instead, China urged the U.S. to "properly resolve differences with China through dialogue on an equal footing on the basis of mutual respect."
China noted Trump's decision to pull back reciprocal tariffs on other countries, "under pressure from China and others," and suggested that the U.S. should "take a big step forward" by removing the remaining tariffs and "thoroughly correct its erroneous practices."
During a regular press conference in Beijing April 11, China's Foreign Ministry spokesperson warned other countries facing pressure from U.S. tariffs: "In the face of U.S. hegemony and bullying, remember this: give the bully an inch, he will take a mile."