China asks US to ‘completely cancel’ reciprocal tariffs

China has called on the United States to “completely cancel” its reciprocal tariffs after Washington said exemptions for consumer electronics and key chipmaking equipment may be short-lived. “We urge the US to … take a big step to correct its mistakes, completely cancel the wrong practice of ‘reciprocal tariffs’ and return to the right path of mutual respect,” a commerce ministry spokesperson said in a statement on Sunday. The world’s two largest economies have been engaged in a tit-for-tat tariff war since US President Donald Trump announced this month sweeping global tariffs — since escalating the blanket duty on Chinese goods to 145 per cent. Retaliatory Chinese import tariffs of 125pc on US goods took effect on Saturday, with Beijing standing defiant against its biggest trade partner.