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BANGKOK (AP) – China has raised tariffs to 84% of goods from the United States.
Last week, China said it would impose a 34% tariff on all U.S. goods.
Trump’s tariffs were 104% on Wednesday, taking effect on China’s exports to the United States
This is a breaking news update. The early stories of AP are as follows.
BANGKOK (AP) – China once again vowed to “fight to the end” in a lengthy policy statement issued on Wednesday to tariffs on Donald Trump, believing that trade between the two countries is at a balanced state as the country’s 104% tax on exports to the United States has taken effect.
The government has declined to say whether it will negotiate with the White House, just as many other countries have already begun to do so.
“If the United States insists on further escalating its economic and trade restrictions, then China has the will of enterprises and the abundant means to take the necessary countermeasures and fight to the end,” the Department of Commerce wrote in a statement introducing the white paper.
Last Friday, China announced controls on all goods imported from the United States, exports of rare earth minerals, and “Liberation Day” tariffs against Trump, tariffs on all imported goods, and exports of rare earth minerals. Trump then increased tariffs on Chinese goods 50%, saying that negotiations with them were fired.
So far, China seems to be uninterested in bargaining. Foreign Ministry spokesman Lin Jian said: “If the United States does want to resolve the issue through dialogue and negotiation, it should adopt an equal, respectful and reciprocal attitude.”
The paper says the United States has not fulfilled its promises in the first phase of the trade agreement that ended in the first semester. For example, it said that unless sold by a Chinese parent company, the U.S. law that would ban Tiktok violates the promise of “putting pressure on the other party to transfer technology to its own individual.”
Trump signed an order last week to keep Tiktok going for another 75 days after the deal of the goods that could be sold to U.S. owners was placed on ice. Patrol representatives said the White House said China will no longer approve the deal until negotiations on trade and tariffs are likely.
The paper also believes that economic exchanges between the two countries are “roughly balanced,” considering service trade and the domestic Chinese branches of U.S. companies.
It said China has a $26.57 billion service deficit trade with the U.S. in 2023, which is composed of industries such as insurance, banking and accounting. Trump’s tariffs are designed to trade deficits in close proximity with foreign countries, but these deficits are calculated based solely on transactions of physical, tangible goods.
“History and facts have proved that the increase in U.S. tariffs will not solve its own problems,” the statement from China’s Ministry of Commerce said. “Instead, it will trigger sharp fluctuations in financial markets, raise inflationary pressures in the United States, weaken the U.S. industrial base and increase the risk of a U.S. recession, which will ultimately backfire itself.
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AP researcher Yu Bing and producer Liu Zheng contributed to the report in Beijing.
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