The increase from the previous 84 percent to 125 percent will be implemented tomorrow, Saturday, according to China's finance department. China believes that the US tariffs "defy fundamental economic laws and common sense" and says it will ignore further American tariffs. China believes that the US tariffs are only "a numbers game" and "a joke".
"If the US continues to impose tariffs on Chinese goods exported to the US, China will ignore them".
"Bullying tactics"
The reason, according to Beijing, is that "there is no longer any market acceptance for American goods exported to China under current tariff levels".
The Chinese announcement comes at the same time as Spanish Prime Minister Pedro Sanchez makes his third visit to the country in two years.
Expanding trade relations with other countries, including such an important partner as China, does not go against anyone, said Spanish Agriculture Minister Luis Planas earlier during the Spanish state visit to Asia.
"Shooting oneself in the foot"
China's President Xi Jinping believes that the EU and China must work together to resist the US trade war:
China and Europe need to fulfill their international commitments/.../ and jointly resist unilateral bullying tactics.
The US Finance Minister Scott Bessent warns Spain, and other countries that intend to approach Beijing, that it is "shooting oneself in the foot". According to Bessent, China will want to dump goods that cannot be sold to the US on other countries.
China also announces that it has reported the US to the World Trade Organization (WTO) due to the trade war.
