China said Wednesday it would hike tariffs on imports from the United States from 34 percent to 84 percent, hours after higher levies imposed on Chinese products by US President Donald Trump came into force.
"Additional tariff rates... will rise from 34 percent to 84 percent", effective from 12:01 pm on Thursday, the Chinese finance ministry said in a statement, BSS reports.
Earlier, the US slapped more tariffs on dozens of adversaries and allies. Chinese goods were hit with a minimum 104% tariff, with Beijing announcing retaliatory tariffs on US goods.
The European Union also backed its first countermeasures in response to the 25% tariffs the US imposed on steel and aluminum exports.
The trade in goods between the two economic powers added up to around $585bn (£429bn) last year.
Though the US imported far more from China ($440bn) than China imported from America ($145bn).
That left the US running a trade deficit with China - the difference between what it imports and exports - of $295bn in 2024. That's a considerable trade deficit, equivalent to around 1% of the US economy.
