In retaliation for US President Donald Trump's "abnormally high" tariffs, China has announced it will be imposing a 125 percent tariff on all US imports.
China further added that Trump's tariff rates "seriously violates international and economic trade rules, basic economic laws and common sense and is completely unilateral bullying and coercion".
As per the official announcement from the Chinese Ministry of Finance, China will no longer pay attention to any retaliation from the US side.
"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,” according to the statement.
Furthermore, China has also filed a fresh lawsuit with the World Trade Organisation (WTO) following the US' recent tariff hike.
On Thursday, the United States hit China with more tariffs, taking the total amount to 145 percent. This hike for China comes amid Trump's 90-day pause on tariffs against all other countries.
Xi Jinping's Responds To US Tariffs
Chinese President Xi Jinping has referred to the US' tariff moves a "unilateral bullying."
As per state-run media agency Xinhua, the Chinese president also called on Europe to resist Trump's policies on tariffs.
"China and Europe should fulfil their international responsibilities... and jointly resist unilateral bullying practices," Xi was quoted as saying by news agency AFP.
