WASHINGTON: The trade dispute between the United States and China escalated sharply on Monday as the White House confirmed a major increase in tariffs on Chinese goods.
The White House press secretary announced that an additional 104 percent tariff on Chinese imports would take effect at noon Eastern time. The new duties, which were due to be levied on April 9, were imposed in response to China’s refusal to lift a 34 percent retaliatory tariff.
The move follows President Trump’s recent warning that measures would be stepped up if Beijing did not change its stance. China has acted forcefully, triggering a high-stakes escalation in a trade standoff that is already roiling global markets.
In a strong denial, China’s Ministry of Commerce called the US move “a mistake on top of a mistake” and vowed to “fight to the end.”
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