China raises tariffs on US goods to 125pc in retaliation

BEIJING: China will raise tariffs on all US goods from 84 percent to 125 percent with effect from April 12, according to the finance Ministry

The move comes after Trump hiked US levies on China. The ministry added that China will ignore further tariffs from the US on Chinese products

“Given that there is no longer any possibility of market acceptance for US goods exported to China under the current tariff levels, if the US side subsequently continues to impose tariffs on Chinese goods exported to the US, the Chinese side will pay no attention to it,” according to the statement.

Trump stuns with tariff backtrack but hikes China rate to 125pc