China slaps US with 84% retaliatory tariffs

China announced an 84% tariff against the United States after President Donald Trump raised tariffs against Beijing to 104% on Wednesday. 

“The U.S. escalation of tariffs on China is a mistake on top of a mistake, severely infringing upon China’s legitimate rights and interests, and seriously damaging the multilateral trading system based on rules,” China’s State Council Tariff Commission said in a statement announcing the latest levy, which brings China’s total tariffs on all U.S. imports up to 118%.

China’s Commerce Ministry also imposed export controls on a dozen U.S. companies and added six U.S. firms to its “unreliable entity list,” banning them from trading or making new investments in China, according to CNN.

The news came after Chinese officials said Wednesday that Trump made a “mistake” in placing steep tariffs on China. They accused the president of trying to exercise “blackmail” and vowed to fight the U.S. “to the end” as tensions over Beijing’s handling of the fentanyl crisis turn into a global war over trade.