China raises tariffs on US goods to 84%

The Chinese government has raised tariffs on all goods imported from the United States to 84 percent. The measure was taken in response to the US decision to raise tariffs on Chinese products to 104 percent, Xinhua news agency reported.

The new tariffs will take effect today, according to the Customs Tariff Commission under the State Council. Beijing also imposed export controls on 12 more US companies and added six more to a list of "unreliable entities."

The source reported that the Chinese Foreign Ministry called on the US to lift unilateral tariffs and resolve disputes based on mutual respect.

However, the call has only further angered the White House, with Reuters reporting that Trump has officially approved an immediate increase in tariffs on China to 125 percent and a 90-day grace period for other countries.

Recall that in March, Trump imposed 20 percent tariffs on Chinese products, and in April, he imposed additional 34 percent. China, in turn, took similar measures. When Beijing refused to remove the tariffs, the US increased the tariffs to 104 percent. China, on the other hand, said it was ready to "fight to the end" if necessary.