The tariff war between the US and China appears to be escalating by the day, as both nations have imposed extensive duties on each other’s goods. In response to the US raising tariffs on Chinese imports to a staggering 104 per cent, Beijing retaliated by imposing an additional 84 per cent tariff on American goods. Washington hit back at the Xi Jinping government, labelling it the “offender in the international trading system”.
“China's move to impose 84 per cent retaliatory tariffs against the United States is unfortunate and a losing proposition for Beijing,” US Treasury Secretary Scott Bessent said on Wednesday.
“I think it's unfortunate that the Chinese actually don't want to come and negotiate because they are the worst offenders in the international trading system,” Bessent said in an interview with Fox Business Network.
China has announced that it will impose a total tariff of 84 per cent on US goods, effective April 10. This represents an increase from the previous rate of 34 per cent and is a retaliatory measure against the US tariffs on Chinese imports, which have been raised to a minimum of 104 per cent.
US President Donald Trump remains resolute in the trade war he initiated against at least 60 nations. Despite reports of internal discord with figures such as Elon Musk and Peter Navarro—the latter widely regarded as the architect of Trump’s trade war—the President continues to adopt a bullish stance in his approach to global trade tensions.
On Tuesday, the US President told a group of Republicans “These countries are calling us up. Kissing my a**. They are dying to make a deal,” CNN reported.
Delegations from Japan and South Korea are en route to Washington. Italy’s prime minister will be in Washington next week. And Israel’s “proactive approach” to seeking out new US trade agreements could serve as a model for everyone, according to the White House.
On the eve of President Donald Trump's new global tariffs taking effect, the White House made it abundantly clear on Tuesday that the door for fresh trade negotiations remained wide open. However, the precise formula for securing relief from these duties remained rather nebulous.
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