BEIJING, CHINA – NOVEMBER 05: A glimpse of China’s Ministry of Commerce (MOFCOM) on November 5, 2024, in Beijing, China.
Visual China Group | Getty Images
On Thursday, China’s Ministry of Commerce declared it would implement “decisive counter-actions” in response to the extensive U.S. tariffs announced by President Donald Trump, calling on Washington to rescind the unilateral tariff measures.
The statement urged the U.S. to resolve trade disputes with partners through equitable dialogue, emphasizing that numerous countries have shown “strong discontentment and clear opposition.”
This announcement follows Trump’s implementation of high tariff rates affecting many nations, including 34% on China, 20% on the European Union, 46% on Vietnam, and 32% on Taiwan.
The White House further informed CNBC’s Eamon Javers that the new tariff imposed on Beijing is in addition to already existing 20% tariffs on Chinese imports, resulting in an effective total of 54% on imports from China.
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