China escalates trade war, raises tariffs on US imports to 84%

The US has raised reciprocal tariffs on Chinese imports to 104%, effective today.

"The US escalation of tariffs against China is a mistake on top of a mistake; it seriously infringes upon China’s legitimate rights and interests and gravely undermines the rules‑based multilateral trading system," said the Customs Tariff Commission of the State Council, according to the state-run Global Times.

Separately, Beijing also added six US firms to the "unreliable entity list," and 12 other US entities to the export control list on Wednesday.

Trump has refused to back down from his tariff policies which have roiled global markets.