By our Reporter
China has announced a steep increase in tariffs on U.S. imports, raising the rate to 84%, following President Donald Trump’s latest escalation in the ongoing U.S.-China trade war.
The move comes after Trump imposed a 104% tariff on Chinese goods, effective Wednesday.
China’s Finance Ministry criticized the U.S. decision, calling it “a mistake on top of a mistake” that violates China’s trade rights and undermines the multilateral trading system.
Meanwhile, the Commerce Ministry added 12 more American firms to its export control list, signaling further retaliation.
The tit-for-tat tariffs have rattled global markets, fueling concerns about a wider economic fallout. Analysts warn of rising consumer prices and recession risks in the U.S., posing potential political challenges for Trump and Republicans ahead of the 2026 midterm elections.
Trump had warned China earlier this week to roll back its 34% retaliatory tariff or face additional penalties. After China declined, the U.S. proceeded with the new higher tariff rate. Trump also announced via Truth Social that all trade talks with China would be suspended.
The escalating trade tensions are expected to take a toll on China’s already slowing economy, which relies heavily on exports. The U.S., meanwhile, faces mounting pressure over inflation and trade disruptions as the global economic standoff deepens.
