China said it is raising tariffs on U.S. imports from 34 percent to 84 percent starting Thursday, an announcement that came hours after President Trump’s tariffs went into effect.
“If the U.S. insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end,” the Ministry of Commerce wrote in a document, reports USA Today.
The latest tariffs on the U.S.’s trading partners includes a 104 percent tax on Chinese goods.
"It was a mistake for China to retaliate," White House Press Secretary Karoline Leavitt said Tuesday. "When America is punched, [the president] punches back harder, and that's why there will be 104% tariffs going into effect on China tonight at midnight."
Treasury Secretary Scott Bessent called the escalation a "loser" for China.
"I think it's unfortunate that the Chinese actually don't want to come and negotiate because they are the worst offenders in the international trading system," he said. "And I can tell you that this escalation is a loser for them."
He seemed unfazed by China's response.
"They can raise their tariffs, but so what?"
BESSENT: “This escalation is a loser for [China] … They are the surplus country. Their exports to the U.S. are 5x our exports to China. So they can raise their tariffs, but so what?”pic.twitter.com/6WiXZrFBTN
— Chief Nerd (@TheChiefNerd) April 9, 2025
Some argue a 104 percent tariff on Chinese goods doesn't go far enough.
"I’m advocating 400 percent," Shark Tank star and investor Kevin O'Leary said on CNN’s Laura Coates Live.
"I do business in China. They don’t play by the rules," he added. "They’ve been in the WTO for decades, they have never abided by any of the rules they agreed to when they came in. For decades. They cheat, they steal, they steal IP. I can’t litigate in their courts. They take product technology, they steal it, they manufacture it and sell it back here."
When Coates followed up, O'Leary doubled down.
"I want [President] Xi [Jinping] on an airplane to Washington to level the playing field," he said. "This is not about tariffs anymore. Nobody has taken on China yet. Not the Europeans. No administration for decades. As someone who actually does business there, I’ve had enough. I speak for millions of Americans who have IP that have been stolen by the Chinese. I have nothing against the Chinese people. They brought great literacy, art and tech to the world. The government cheats and steals and finally an administration — you may not like Trump, you may not like his style or his rhetoric — finally, an administration that puts up and says ‘Enough! 400% tariffs tomorrow morning!’
"I’ll tell you why," he continued. "Xi can only stay the Supreme Leader if people are employed. If we wipe out any business there because we are still 39 percent of all consumables on Earth and 25 percent of the world’s GDP. America is the No. 1 economy on earth with all the cards. We will not have that forever. It’s time to squeeze Chinese heads into the wall now!"
BREAKING 🚨 Kevin O’Leary said the 104% Tariffs with China is NOT enough. He wants it to be 400%
— MAGA Voice (@MAGAVoice) April 9, 2025
“It's time to squeeze Chinese heads into the wall”
I AGREE, HOLD THE LINE NOW 🔥 pic.twitter.com/XJ0qXuWhhV
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