China Increases Retaliatory Tariffs On American Goods To 125%

[craig nigrelli]

CHINA IS STILL DIGGING IN, IN THE TARIFF WAR WITH THE TRUMP ADMINISTRATION.  THIS MORNING, THE COMMUNIST COUNTRY MATCHING ITS RETALIATORY TARIFFS ON AMERICAN IMPORTS, TO PRESIDENT TRUMP’S 125 PERCENT TARIFFS ON CHINESE GOODS.

THAT NEW RATE IS SET TO TAKE EFFECT ON SATURDAY.

IT COMES AS CHINESE PRESIDENT XI JINPING MADE HIS FIRST PUBLIC COMMENTS ON THE TARIFF WAR BETWEEN THE U-S AND CHINA TODAY — SAYING HIS COUNTRY IS “NOT AFRAID” OF WHAT HE SAYS IS “UNJUST SUPPRESSION.”

CHINA’S TARIFF HIKE FROM 84 PERCENT TO 125 PERCENT IS THE LATEST IN A TIT-FOR-TAT BATTLE BETWEEN THE WORLD’S TWO LARGEST ECONOMIES — AND IT LOOKS LIKE IT COULD BE ONE OF THE FINAL MOVES IN THIS TRADE WAR.

THE CHINESE GOVERNMENT INDICATING IT WILL NOT  HIKE TARIFFS EVEN HIGHER — SAYING IN A STATEMENT IT WOULD BE MEANINGLESS.

“THE SUCCESSIVE IMPOSITION OF EXCESSIVELY HIGH TARIFFS ON CHINA BY THE U-S HAS BECOME NOTHING MORE THAN A NUMBERS GAME, WITH NO REAL ECONOMIC SIGNIFICANCE” — A SPOKESPERSON FOR CHINA’S COMMERCE MINISTRY SAID IN A STATEMENT.

IT WENT ON TO SAY, “IT MERELY FURTHER EXPOSES THE US PRACTICE OF WEAPONIZING TARIFFS AS A TOOL OF BULLYING AND COERCION, TURNING ITSELF INTO A JOKE.”

PRESIDENT TRUMP HAS SAID THE DAY OF CHINA RIPPING OFF THE UNITED STATES AND OTHER COUNTRIES IS NO LONGER SUSTAINABLE OR ACCEPTABLE.