China’s Ministry of Finance announced Friday that it plans to increase its current tariffs on all U.S. goods amid escalating trade tensions between the two countries.
Tariffs on all U.S. goods will rise to 125% beginning on April 12, according to China’s Ministry of Finance. The announcement comes after President Donald Trump paused tariffs for other countries for 90 days on Wednesday, but made moves to increase tariffs on China.
“Given that American goods are no longer marketable in China under the current tariff rates, if the U.S. further raises tariffs on Chinese exports, China will disregard such measures,” China’s Ministry of Finance wrote in the statement, Bloomberg reported.
“At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable,” Trump wrote…
