China slaps 84% tariffs on US goods after Trump's 104%
What's the story
China has upped the ante in its ongoing trade war with the United States by imposing a shocking 84% tariff on US imports, up from 34%.
The move is in direct response to President Donald Trump's massive 104% tariffs across all Chinese imports, which start Wednesday.
The Chinese finance ministry announced that these new charges will take effect from 12:01 CST (10:31pm IST) on April 10.
Announcement
'US seriously damaging the multilateral trading system'
"The US escalation of tariffs on China is a mistake upon mistake, severely infringing upon China's legitimate rights and interests, and seriously damaging the multilateral trading system based on rules," China's State Council Tariff Commission said after announcing the fresh tax.
China's Commerce Ministry has also imposed export controls on 12 American companies and added six more to its "unreliable entity list."
Companies on the list are prohibited from trading or investing in China.
Diplomatic stance
Trump awaits response from China
Before imposing the 104% tariff, President Trump said in a post on TruthSocial that he is waiting for a response from Beijing. He said China was eager to reach an agreement but doesn't know how to start it.
"We are waiting for their call," he added.
White House Press Secretary Karoline Leavitt later stressed that if China reached out, Trump would be "incredibly gracious, but he's going to do what's best for the American people."
Stance
China remains firm amid trade tensions
Beijing did reach out, but not in a way the US had wanted.
Chinese Premier Li Qiang assured that China is well-prepared to counteract the potential economic impacts of Trump's unprecedented 104% tariffs on all Chinese imports.
According to the Commerce Ministry, China has also filed a complaint to the World Trade Organization over the latest US tariffs.
"The situation has dangerously escalated...,China expresses grave concern and firm opposition to this reckless move," China said in a statement to WTO.