China increases retaliatory tariffs on US imports to 125%

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China said it would increase its retaliatory tariff for American goods to 125 percent, in the latest escalation of the trade war between the largest economists in the world.

The Chinese Ministry of Finance said that the increase in the current additional levels of 84 percent will become valid as of April 12.

But the ministry added that it will ignore any other American tariff that rises on Chinese exports, “given that at the current tariff level, there is no acceptance in the market for American goods exporting to China.”

She said: “The United States’s imposition of highly high definitions on China seriously violates international economic and commercial rules, basic economic laws and a proper sense, which is bullying and coercion unilaterally.”

This step is the latest in one week between the two countries that witnessed that the administration of US President Donald Trump isolates China after some customs tariffs stopped on other commercial partners.

It comes alongside a wave of escalating from the disruption of shipping that threatens to break the international trade between countries, with the abolition of shipments to disable flights across the Pacific.

In the first major diplomatic meeting since the outbreak of a fully commercial war for this week, President Xi Jinping met on Friday with Spanish Prime Minister Pedro Sanchez in Beijing.

The government news agency Shinachua quoted Shi as telling Sanchez that “there are no winners in the war of tariffs and that confronting the world will only lead to self -isolation.”

The Chinese president said that the world “is subject to abnormal accelerating changes in a century, with risks and overlapping challenges.”

The chaotic impact of the Total tariffs of Trump has led to the confusion of markets since its declaration of “liberation day” on April 2, which wipes the trillion dollars from global stock indicators and sending bond returns.

Earlier this week, Trump presented a 90 -day stand for dozens of countries from the so -called mutual fees announced at that time, which led to a recovery in market prices. China has been excluded from retreat.

Last week, Trump presented an additional tariff for China by 34 percent, adding to previous increases of 10 percent. Since then her duties have increased over and over again after revenge on Beijing.

Trump’s latest escalation this week has reached duties on Chinese imports of 145 percent. Even before the transition on Friday by Beijing, economists said that the average total level of Chinese definitions on American goods would be more than 100 percent.

At a press conference in Beijing on Friday, Sanchez sought to encourage talks between Washington and Beijing.

“The commercial wars are not good, and no one wins, and I am sure that what the world needs is that China and the United States speak,” the Spanish Prime Minister said on his third visit to Beijing within two years.

Some of the largest companies in China have started offering measures to alleviate the impact of American definitions. On Friday, the JD.com e -commerce group revealed an initiative worth 200 billion yuan ($ 27 billion) to help the exporters suffer.

JD.com said in a statement that it will spend the money on buying the export goods for resale in the local market in China.

The group said that the Chinese companies that were “going globally” for years faced “challenges when moving from exports to local sales, such as the lack of knowledge of the local market and the lack of operational experience.”

Alibaba giant supermarkets said it would work with exporters to expand their local sales.

Additional reports by Gloria Lee in Hong Kong