China said it is raising its tariffs on U.S. products to 84%, up from its previously announced 34%, after President Trump’s import duties on Chinese good went into effect today at a rate of 104%.
Mr. Trump’s broad-based tariffs, which apply to imports of almost every nation, kicked in after midnight Eastern time in the U.S.
China’s announcement signals Beijing isn’t backing down in a global trade war sparked by Mr. Trump’s April 2 decision to levy so-called “reciprocal tariffs” on almost every nation. In response to that announcement, China said it would counter by placing the same duty — 34% at the time — on U.S. imports, which prompted Mr. Trump to slap another 50% tariff on Chinese imports.
Together with previously announced tariffs, Mr. Trump has raised the total tariff rate on China-made products to 104%, a fee that will be paid by U.S. companies that import products from China. Those companies are likely to pass on the cost of all or some of the import duties to American consumers, hiking prices on everything from iPhones to clothing made in China, according to experts.
In an April 9 statement, China said called Mr. Trump’s decision to add another 50% tariff as a “mistake upon a mistake.” It also called Mr. Trump’s tariffs as an example of “unilateralism, protectionism and economic bullying.”
