Washington - Saba:
US President Donald Trump announced on Wednesday that he would raise tariffs on the People's Republic of China to 125 percent due to its "disrespect for global markets."
Trump said, "Based on China's disrespect for world markets, I am raising the United States' tariffs on China to 125 percent, effective immediately."
He added, "We hope that China will soon realize that the days of taking advantage of the United States and other countries are over and no longer acceptable."
Trump had previously stated that additional tariffs on Chinese goods of 104 percent would take effect on Wednesday.
The rate had previously been set at 34 percent, but Beijing imposed similar tariffs, prompting Trump to increase the rate until Beijing reversed its actions.
On Wednesday, China announced that it would raise additional tariffs on all goods imported from the United States from 34 percent to 84 percent, effective April 10.
For his part, US Treasury Secretary Scott Besant announced that the possibility of delisting Chinese stocks from US stock exchanges was not ruled out, noting that "all options are on the table."
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