This and the Americans raising tariffs to 145% should pretty much put a halt to trade between the two countries.
Except for those goods that have no or minor substitute suppliers.
Lifted in toto from the Associated Press, April 11:
China announced countermeasures on Friday, raising tariffs on U.S. goods from 84% to 125% starting Saturday.
The U.S. and China have escalated trade war by raising tariffs even as U.S. President Donald Trump hit a pause on tariffs for other countries.
Trump’s universal tariffs on China total 145%. When Trump announced Wednesday that China faced 125% tariffs, he did not include a 20% tariff on China tied to its role in fentanyl production.
“The U.S. alternately raising abnormally high tariffs on China has become a numbers game, which has no practical economic significance, and will become a joke in the history of the world economy,” a Commerce Ministry spokesman said in a statement announcing the countermeasure. “However, if the US insists on continuing to substantially infringe on China’s interests, China will resolutely counter and fight to the end.”
China’s Commerce Ministry said it was filing another lawsuit with the World Trade Organization on the raising of U.S. tariffs.
In theory the deficit country has a game-theoretic advantage but in this case that advantage would be reduced by American bloodsport domestic politics and by the fact President Xi has pretty much fashioned an autocracy in China.
Additionally, India's RepublicWorld reports:
Xi Jinping Calls on EU to Stand Together Against US ‘Unilateral Bullying’ Amid Rising Tariff Tensions
Chinese President Xi Jinping urged the EU to unite against US tariffs imposed by Trump, while meeting Spanish PM Pedro Sanchez in Beijing.
