China has increased duties on goods from the United States to 125%

The Chinese government has increased additional duties on goods from the United States to 125%. This is followed by a statement from the press service of the Ministry of Finance of the People's Republic of China, published on April 11 on the official website of the department.

"The change in the rate of additional duties <...> on goods manufactured in the United States from 84% to 125%," the publication says.

The relevant measures began to take effect on Saturday, April 12.

The Chinese ministry also stressed that the increase in US duties violates international trade rules and contradicts common sense.

Market conventions: China and the EU may join forces in a trade war against the United States

The share of their total GDP in the global economy will reach a third in the coming years, but it is unlikely that the countries will remove all barriers.

On April 2, Trump announced large-scale trade measures: base tariffs of 10% are being introduced for all products supplied to the United States. For the EU, this figure has been raised to 20%, and for China — to 34%. CNBC later reported that the American leader had increased duties on goods from China to 145%.

Chinese Foreign Minister Wai Yi said on April 11 that the United States is acting recklessly and contributing to the destabilization of the international situation when it continues to impose new trade duties.