The tit-for-tat exchange marks a major escalation in the ongoing trade war, raising fears of deeper disruption to global supply chains and markets.
In a strongly worded statement, China's Ministry of Finance blasted the U.S. tariff hike as 'unilateral bullying and coercion,' accusing Washington of violating international trade norms and disregarding basic economic principles.
'The U.S. imposition of abnormally high tariffs on China seriously violates international economic and trade rules, disregards the post-World War II global economic order built by the U.S. itself, and defies common sense,' the ministry said.
Beijing made clear that its new tariffs would take effect on Saturday, while warning that it would not play along with what it called a 'numbers game' of ever-rising duties.
'At the current tariff level, there is no market acceptance for U.S. goods exported to China,' the statement continued.
'If the U.S. continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of world economy.'
President Trump's move to raise tariffs to 145% included all major categories of Chinese imports, although it excluded a separate 20% duty tied to China's role in the global fentanyl trade, according to the Associated Press.
The latest increase follows a pause on reciprocal tariffs for several other trading partners, singling China out as the primary target of the White House's aggressive trade strategy.
In response, China's Commerce Ministry confirmed that it had filed an additional complaint with the World Trade Organization, escalating the dispute to a formal global forum.
China's retaliation has started to take effect, with major European stock indexesâ€"which initially posted minor gains on Fridayâ€"falling sharply after news of the retaliatory tariffs broke.
Wycliffe Nyamasege
