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China says they will increase additional tariffs on US products at the latest racing of trade war among the two largest economies in the world to at least 125 percent.
The Chinese Finance Ministry has said that from April 12, the growth of 5 percent will be effective from the current additional levels.
This comes after the disruption of shipping throughout the Pacific, within the rising tariff between both sides of the last week.
The finance ministry also added that it does not match the increase in tariffs in the United States on Chinese export, “at the current tariff level, the market has no acceptance for US products exported to China”.
“The imposition of abnormal high tariffs on China in the United States has been severely violated in international economic and trade rules, basic economic laws and common sense, and it is completely unilateral bullying and forced.”
