Trump Further Hikes Tariffs on China, Beijing Says It Will Not Flinch In Case of Trade War
The Wire Staff
New Delhi: Even as US President Donald Trump announced a 90-day tariff pause for several countries, he further increased tariffs on Chinese imports, which now stand at a whopping 145%.
After China announced counter tariffs of 84% on US goods on Wednesday (April 9), the hit back once again with higher duties on Chinese goods, raising the new tariffs on China to 125%, reported Reuters.
After including a 20 percent fentanyl-related tariff that Trump previously imposed on China, the total tariffs on China stand at 145%, reported Mint.
Trump has now raised the tariff on Chinese goods five times since taking office in January.
Chinese Foreign Ministry Spokesperson Lin Jia said on Thursday (April 10) that Beijing is not looking to fight a trade war, but China will not flinch if tariff hostilities escalate to that point.
"We will never sit idly by and watch while the legitimate rights and interests of the Chinese people are infringed, nor will we sit idly by as international economic and trade rules and the multilateral trading system are undermined," said the spokesperson.
Trump says he would 'love to get a deal with China'
Amid the escalating tensions over tariffs with China, Trump later said on Thursday that he would “love to get a deal with China”, reported Reuters.
Trump made the comments during a Cabinet meeting opened to press.
“Xi is a smart guy and we’ll end up making a very good deal. I think investing in the United States of America will be the greatest investment,” said Trump, reported Economic Times.
He added that a phone call from Xi could restart the talks and that “it’s off to the races” once that happens.
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