SHANGHAI/HONG KONG — China on Wednesday raised its retaliatory tariff against the U.S. to 84%, hours after new American tariffs took effect, in a dramatic escalation of the superpower trade war.
Beijing added 50% to the 34% it had already announced. The new rate on all goods from the U.S. is due to take effect at 12:01 p.m. on Thursday, the Customs Tariff Commission of the State Council said on its website.
