EU approves countermeasures, China raises its retaliatory tariff to 84%

China on Wednesday said it would increase its reciprocal tariffs on U.S. goods to 84% from the previous 34%, per a statement rom the country's Finance Ministry.

The measure came after President Donald Trump's additional tariffs on Chinese goods came into force, bringing the total rate of tariffs on Chinese goods to 104%.

In addition to China, European Union countries have backed the European Commission's proposal to push back on Trump's tariffs on steel and aluminum with a set of countermeasures.

"Today's vote of approval by Member States means that -once the Commission's internal procedures are concluded, and the implementing act published - countermeasures will enter into force. Duties will start being collected as of 15 April," it added.

The sweeping new tariffs went into effect at 12:01 a.m. on Wednesday, one week after Trump first unveiled his "Liberation Day" tariff plan.

SEE ALSO: New tariffs could cost US importers over $700 billion in 2025

In addition to the steep levy imposed on Chinese, the U.S. is slapping tariffs on imports from dozens of other countries, including:

- 46% on Vietnam
- 32% on Taiwan
- 25% on South Korea
- 24% on Japan
- 20% on European Union countries

Under Trump's plan, the tariff on Chinese imports was originally set at 34%. Added to an existing 20% tariff on China, that brought the total rate to 54%. After Chinese officials announced retaliatory measures, the White House said the U.S. would raise the overall rate on Chinese imports by another 50% -- bringing it to a total of 104%.

The first phase of Trump's tariff plan - baseline 10% tariffs on imports from nearly all U.S. trading partners -- went into effect early Saturday.