Urgent: China Raises Tariffs on US Goods to 125% in Unprecedented Escalation

The Chinese Ministry of Finance announced a short while ago, Friday, that Beijing will raise tariffs on all US goods from 84% to 125%, effective April 12. The statement read: "Even if the United States continues to impose higher tariffs, it will make no economic sense and will become a joke in the history of the global economy." It indicated that it intends to ignore any further increases announced by Washington from now on. The Chinese Ministry of Finance added: "The United States' imposition of abnormally high tariffs on China seriously violates international trade and economic rules, basic economic laws, and common sense, and constitutes purely unilateral bullying and coercion." This decision follows US President Donald Trump's recent increase in tariffs on Chinese imports to 145%.