China hikes tariffs on US goods to 125%
By Alexander Bueso
Date: Friday 11 Apr 2025
(Sharecast News) - China raised its tariffs on American goods again, but said that it would ignore any further increases on the part of Washington.
In an announcement made ahead of the weekend, the Chinese ministry of finance said that it would raise its trade levies on US goods from 84% to 125%, matching a previous move on the part of the US.
The day before, the White House had clarified that total tariff on Chinese goods would rise to 145% and not 125% as had previously been reported.
That difference was the result of an additional, but already announced, 20% levy which had not been factored in that was meant to punish Beijing for not curbing shipments of fentanyl precursors to the States.
"Given that there is no longer any possibility of market acceptance for US goods exported to China under the current tariff levels, if the US side subsequently continues to impose tariffs on Chinese goods exported to the US, the Chinese side will pay no attention to it," the ministry of finance added.
Separately, the ministry of commerce said that Washington's exorbitant tariffs had become economically meaningless and "a joke".
In response to the Chinese announcement, Wall Street futures flipped into the red.
As of 0841 GMT, the S&P 500 mini contract was slipping by 7.75 points to 5,294.25, alongside a 30.75 point decline on the equivalent Nasdaq-100 contract to 18,453.75.
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