China will impose an 84% tariff on U.S. imports starting Thursday, a significant increase from the initially planned 34%. This move is a response to the U.S. implementing additional 50% tariffs on Chinese goods, leading to a total U.S. tariff of 104%. China’s Ministry of Finance argues that the U.S. tariffs violate its rights and interests. Treasury Secretary Scott Bessent stated that China’s actions could backfire, as it exports more to the U.S. than vice versa, questioning the effectiveness of their retaliatory measures.

Source: https://www.supplychaindive.com/news/china-tariffs-84-percent-trump-trade-war/744832/