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In retaliation to the latest tranche of US tariffs, China on Friday imposed 125 per cent tariffs on all US goods.
With the latest tranche, China now faces at least 145 per cent tariffs, according to the White House.
After slapping the United States with 125 per cent tariffs, China said that it will not respond to any further tariffs imposed by the United States, according to BBC.
China said that the “abnormally high tariffs” imposed by US President Donald Trump “seriously violates international and economic trade rules, basic economic laws and common sense and is completely unilateral bullying and coercion”.
China further said that Trump’s tariffs “have become a numbers game with no practical significance in economics” and are a proof of his “bullying and coercion”.
“It will become a joke,” said the Chinese Commerce Ministry.
Earlier this week, hours after Trump’s sweeping tariffs came into effect, Trump paused most of the tariffs for 90 days. However, tariffs on China were not paused. Instead, tariffs on China were hiked to 145 per cent.
In immediate retaliation to Trump’s tariffs, China has reduced the import of Hollywood films and US-produced soyabean. So far, soyabean has been the largest US agricultural export to China, but China has replaced the United States with Brazil as the largest importer of soyabean.
Under Trump’s pause, all countries now have 10 per cent tariffs except for tariffs on steel, aluminium, and automobiles that have 25 per cent. Moreover, Canada and Mexico have 25 per cent tariffs on all goods not covered by the United States-Mexico-Canada Agreement (USMCA).