China retaliated against Donald Trump’s latest tariffs by hiking duties on all US goods, while calling the administration’s actions a “joke” and saying it no longer considers them worth matching.

Beijing will raise tariffs on all US goods from 84% to 125% starting April 12, the Ministry of Finance said on Friday, after the White House clarified that levies on Chinese goods rose to 145% this year.

“Given that American goods are no longer marketable in China under the current tariff rates, if the US further raises tariffs on Chinese exports, China will disregard such measures,” according to the statement.

However, China warned that it will “resolutely counterattack and fight to the end” if the US continues to infringe on its rights and interests. It also said America should take full responsibility for the damage caused by the tariffs.

Tensions between Beijing and Washington have spiraled beyond tit-for-tat tariff exchanges in recent days to impact services and people-to-people ties. Chinese authorities on Thursday moved to cut the number of American films allowed in theaters. Officials also warned citizens against traveling to the US and cautioned students about security risks in “certain states.”

The US and China now trade about $700 billion worth of goods each year. Without a deal to ease tensions, the higher tariffs will mean consumers and businesses on both sides are likely to face rising costs, as they scramble to adjust supply chains and reduce their tariff exposure.

So far, China has refused to cave to Trump’s pressure even as soaring duties are expected to weigh on the economy, with Goldman Sachs Group Inc. economists cutting their 2025 growth forecast to 4% from 4.5%.

President Xi Jinping on Friday made his first public remarks on the escalating trade war, saying China remains confident and unafraid of any “unjustified suppression.”

“One that goes against the world risks being isolated themselves,” Xi told visiting Spanish Prime Minister Pedro Sanchez.

Reaffirming China’s stance that there are no winners in a tariff war, Xi added that the country’s development has never relied on the goodwill of others. “No matter how the external environment changes, China will stay confident, remain calm, and focus on managing its own affairs,” he said.

Archive link