Beijing on Friday increased its tariffs on U.S. imports to 125%, hitting back against U.S. President Donald Trump's decision to hike duties on Chinese goods to 145%, raising the stakes in a trade war that threatens to up-end global supply chains.
The hike comes after the White House kept the pressure on the world's No.2 economy and second-biggest provider of U.S. imports by singling it out for an additional tariff increase, having paused most of the "reciprocal" duties imposed on dozens of other countries.
"The U.S. 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.
