Trump Hits China! China's Goods Import Tariffs Rise Again To 125 Percent

US President Donald Trump/PHOTO via Instagram @whitehouse

JAKARTA - US President Donald Trump has again raised the import rate of goods from China. Trump raised the import rate to 125 percent from the original 104 percent.

Trump's decision to step up a high-risk confrontation between the world's two largest economic powers.

As reported by Reuters on Thursday, April 10, Western Indonesia Time in the morning, Trump also said he would temporarily lower new rates in many countries.

Trump's announcement comes less than 24 hours after new high rates were imposed for imports from dozens of trading partners.

The new trade bottleneck hit the market, increased the possibility of a recession, and pushed for a response from China and the European Union.

Previously China decided to impose an 84% tariff on US goods starting Thursday, up from 34% previously announced.

This decision is the latest resistance in a global trade war sparked by US President Donald Trump.

Trump's "returns" rates in dozens of countries took effect on Wednesday, including a massive 104% import duty on Chinese goods.

Trump's burdensome rates rocked the global trade order that has been going on for decades, raising fears of a recession, and removing trillions of dollars from the market value of large companies.

Trump almost doubled import duty for China, which was set at 54% last week, in response to Beijing's previous reply rates.

Previously, China called its trade surplus with the United States a necessity and warned it had "taff and means" to continue the fight if Trump continued to hit Chinese goods.

China's currency faces heavy pressure declines, with offshore yuan at record lows due to tariffs, but sources told Reuters the central bank had asked state-owned major banks to reduce the purchase of US dollars and would not allow a sharp decline in yuan.

China conveyed to the World Trade Organization that the US tariff threatened to further disrupt global trade stability.

"The situation has increased dramatically. As one of the affected members, China expressed deep concern and firm rejection of this reckless act," China said in a statement to the WTO on Wednesday sent to Reuters by China's WTO mission.