China Confirms That There Are No Winners in the Trade War

In a new escalation in the trade war between the United States and China, Beijing announced that it would raise tariffs on U.S. imports from 84% to 125%. The Chinese State Council’s tariff committee stated that "the imposition of unusually high tariffs by the United States on China severely violates international trade rules and basic economic laws."

This decision comes in response to President Trump's increase in tariffs on Chinese goods to 145%, further intensifying the trade tensions between the world’s two largest economies. The new tariffs went into effect on Saturday, April 12.

In addition, Chinese state media reported that Beijing has filed a complaint with the World Trade Organization (WTO) against the U.S. tariffs, affirming that these tariffs "violate global trade and economic rules."

Chinese President Xi Jinping confirmed that China will continue to protect its interests, stating that "there are no winners in a tariff war."

These developments add complexity to the trade relations between China and the United States, with potential widespread impacts on the global economy and international trade markets.