Trade War Tensions Surge As China Slaps 125 Tariffs On Us Imports

In a dramatic escalation of the ongoing trade war, China has announced that it will raise tariffs on American imports to a staggering 125.

This retaliatory move comes shortly after the Trump administration clarified that China now faces a minimum tariff rate of 145 on all exports to the United States.

As the worlds two largest economies engage in this fast-moving tit-for-tat, concern is mounting over the implications for global trade and the potential for a worldwide recession.

The announcement was made shortly before the new tariffs were scheduled to take effect on Saturday, increasing the existing tax on US goods from 84 to an unprecedented 125.

In an official statement, China remarked, Given that American goods are no longer marketable in China under the current tariff rates, if the US further raises tariffs on Chinese exports, China will disregard such measures, Bloomberg reported.