China hits back at Trump's tariff hike with 125% duties on U.S. goods

Thomson Reuters

· Posted: Apr 11, 2025 5:20 AM EDT | Last Updated: 21 minutes ago

Beijing connected Friday accrued its tariffs connected U.S. imports to 125 per cent, hitting backmost against U.S. President Donald Trump's determination to hike duties connected Chinese goods to 145 per cent, raising the stakes successful a commercialized warfare that threatens to upend planetary proviso chains. The countermeasures instrumentality effect connected Saturday.

The hike comes aft the White House kept the unit connected the world's No. 2 system and second-biggest supplier of U.S. imports by singling it retired for an further tariff increase, having paused astir of the "reciprocal" duties imposed connected dozens of different countries for 90 days.

WATCH | Beijing moved its tariff from 84% to 125%: 

"The U.S. imposition of abnormally precocious tariffs connected China earnestly violates planetary and economical commercialized rules, basal economical laws and communal consciousness and is wholly unilateral bullying and coercion," China's Finance Ministry said successful a statement.

Beijing indicated that this would beryllium the past clip it matched the U.S., should Trump instrumentality his duties immoderate higher. But it near the doorway unfastened for Beijing to crook to different types of retaliation.

"Even if the U.S. continues to enforce adjacent higher tariffs, it would nary longer person immoderate economical value and would spell down arsenic a gag successful the past of satellite economics," the concern ministry said.

Trump told reporters astatine the White House connected Thursday that helium thought the United States could marque a woody with China and said helium respected Chinese President Xi Jinping.

"In a existent consciousness he's been a person of excavation for a agelong play of time, and I deliberation that we'll extremity up moving retired thing that's precise bully for some countries," helium said.

Xi, successful his archetypal nationalist remarks connected Trump's tariffs, told Spanish Prime Minister Pedro Sanchez during a gathering successful Beijing connected Friday that China and the European Union should "jointly reason unilateral acts of bullying," China's authorities quality bureau Xinhua reported.

"There are nary winners successful a commercialized war," the Chinese person told his guest, adding that by acting together, the world's second-largest system and the 27-strong European commercialized bloc could assistance uphold "the planetary rules-based order."

Global stocks fell, the dollar slid and a sell-off successful U.S. authorities bonds picked up gait connected Friday, reigniting fears of fragility successful the world's biggest enslaved market. Gold, a harmless haven for investors successful times of crisis, scaled a grounds high.

Vietnam, Japan hole to prosecute White House

Xi volition sojourn Vietnam from April 14 to 15, and Malaysia and Cambodia from April 15 to 18, state-run Xinhua quality bureau said connected Friday, aft the Chinese president pledged this week to deepen "all-round co-operation" with China's neighbours.

In a stunning reversal, U.S. President Donald Trump said connected Wednesday helium would temporarily little the hefty duties helium had conscionable imposed connected dozens of different countries portion further ramping up unit connected China.

Trump enactment a 90-day intermission connected the "Liberation Day" tariffs and enactment down a 10 per cent baseline tariff for much than 75 countries instead.

Several different Asian countries were looking astatine immoderate of the highest tariffs before the pause, including Vietnam.

In anticipation of avoiding punishing U.S. tariffs, Vietnam is prepared to ace down connected Chinese goods being shipped to the United States via its territory and volition tighten controls connected delicate exports to China, according to a idiosyncratic acquainted with the substance and a authorities papers seen by Reuters.

Vietnam was deed with a 46 per cent tariff arsenic portion of Trump's Liberation Day salvo. While the tariff has been suspended for 90 days, the 2 countries agreed to commencement talks aft a Vietnamese lawman premier curate met with the U.S. commercialized typical connected Wednesday.

LISTEN l Justin Wolfers, University of Michigan economics professors, unpacks latest connected tariffs: 

Export-reliant Vietnam is hoping to get the duties reduced to a scope of 22 per cent to 28 per cent if not lower, 3 radical with cognition of the substance told Reuters.

The "reciprocal" tariff imposed connected Japan has been chopped to the cosmopolitan 10 per cent rate, down from the archetypal 24 per cent, during the 90-day pause. A 25 per cent work inactive applies for automobile imports.

Japanese Prime Minister Shigeru Ishiba connected Friday acceptable up a task unit to oversee commercialized negotiations with the United States, headed by his adjacent adjutant and Economy Minister Ryosei Akazawa, who home media said volition sojourn Washington adjacent week.

Akazawa volition conscionable U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer for tariff talks connected April 17, nationalist broadcaster NHK reported connected Friday.