China on Friday increased its tariffs on US imports to 125 per cent, hitting back against US President Donald Trump's decision to hike duties on Chinese goods to 145 per cent.
This latest development has raised the stakes in a trade war that threatens to upend global supply chains.
The increase comes after the White House kept the pressure on the world's No. 2 economy and second-biggest provider of US imports by singling it out for an additional tariff increase, having paused most of the “reciprocal” duties imposed on dozens of other countries.
“The US imposition of abnormally high tariffs on China seriously violates international and economic trade rules, basic economic laws and common sense and is completely unilateral bullying and coercion,” China's Finance Ministry said in a statement.
DAILY POST reports that the US had announced that the cumulative duties imposed by the Donald Trump administration on Chinese goods now total .
