China will impose additional 50 per cent tariffs on all American imports in response to a similar level of tariff increases on its goods from US President Donald Trump, marking what threatens to be an end to normalised trade relations between the world’s two biggest economies.
At the same time, the world’s second-largest economy pledged to release new supportive policies in a timely manner amid external shocks.
Beijing’s move marked a clear signal that it would resolutely defend its interests and fight to the end, analysts warned as the tit-for-tat retaliation and the high tariffs risk a further decoupling with the US.
Trump’s action, which brought the cumulative total of additional import duties to 104 per cent since he took office in January, took effect at noon on Wednesday and took the total impact to around 115 per cent on Chinese goods.
Beijing’s levy is due to take effect at noon on Thursday, and it would bring accumulative additional tariffs raised by Beijing to 84 per cent.
“China will firmly defend its interests, multilateral trade system and international economic order,” the Ministry of Commerce said in an online statement.
