The Chinese government has announced it will raise tariffs on U.S. imports to 84%, up from the current 34%, according to a statement from the finance ministry.
The move follows the U.S. implementation of similar tariffs earlier in the day. Beijing dwelled on its longstanding opposition to escalating trade barriers and affirmed it would adopt “firm and forceful” measures to defend its interests.
The minister said tariff escalation against China by the United States simply piles severe violations on China’s legal rights.
In a clear announcement, Beijing’s commerce ministry declared that it would place six U.S.-based artificial intelligence companies, such as Shield AI Inc. and Sierra Nevada Corp., on a blacklist. According to the ministry, these firms had either supplied weapons to Taiwan or engaged in joint “military technology” projects
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