China raised its tariff on U.S. goods to 125% on Friday, mirroring President Donald Trump‘s latest hike, but stated it will not go higher—an indication of potential room to ease tensions.
The new tariffs, effective April 12, apply to approximately $144 billion in U.S. exports, primarily agricultural products such as soybeans. China labeled Trump’s trade actions a “joke” but said it would not escalate further unless provoked.
Trump’s tariff structure includes an earlier 20% fentanyl-related levy, bringing the total U.S. duty on Chinese goods to 145%.
“Given that American goods are no longer marketable in China under the current tariff rates, if the U.S. further raises tariffs… China will disregard such measures,” the Chinese Ministry of Finance said in a statement.
Markets responded negatively. European stocks fell after early gains, U.S. futures dipped, and Treasury bond yields rose slightly to 4.407%.
Sources
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
