China Increases Tariff On U.S. Goods To 125%

While President Trump paused import taxes for other countries, he raised tariffs on china and they now total 145%.

China has once again increased tariffs on goods imported from the United States.

The country raised the tariffs from 84% to 125% in the latest trade war that has been escalating between China and the U.S. over the past few weeks.

While President Trump paused import taxes for other countries, he raised tariffs on china and they now total 145%.

China accused the U.S. of “economic bullying” and promised counter-measures.

A Chinese finance ministry spokesperson said, “if the U.S. insists on continuing to substantially infringe on China’s interests, China will resolutely counter and fight to the end.”

The back-and-forth between the world’s two largest economies has rattled markets and raised fears of a global slow-down.