China introduces new 125 percent tariffs on all imports from the US

(Patria) - China announced today that it will no longer "pay attention" to the trade moves of US President Donald Trump's administration, after raising tariffs on all US imports to 125 percent, state media reported.

"China will impose additional tariffs on products imported from the US from 84 to 125 percent, effective April 12," the Customs Tariff Commission of the State Council announced.

As they stated, given that there is no longer market acceptance for US goods exported to China at current tariff levels, if the US side subsequently continues to impose tariffs on Chinese goods exported to the US, the Chinese side will not pay attention to it.

The trade war initiated by US President Donald Trump has shaken global markets. He raised tariffs on Chinese goods to 145 percent, claiming that Beijing "abuses" trade practices with the US.

Neither of the world's two leading economies is backing down, and there is currently no solution in sight.

However, Beijing's announcement that it will not "pay attention" to any further increase in US tariffs indicates that China has paused all further actions on its part.

China has also filed a new lawsuit with the World Trade Organization against the latest tariff increases by the Trump administration, the country's Ministry of Commerce stated.