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Trump Defends Policy After China Hits the US With 125% Tariffs
Hindustan Times Jammu
|April 13, 2025
President Donald Trump insisted on Friday that his tariff policy was "doing really well" despite China hiking levies on US goods to 125% in the spiraling trade war between the world's two biggest economies.
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WASHINGTON:
Investors dumped US government bonds, the dollar tumbled and stocks seesawed after Beijing's retaliation against Trump deepened concerns on already traumatized global markets.
Trump sent financial markets into a tailspin by announcing sweeping import taxes on dozens of trade partners last week, only to abruptly roll them back to 10% on Wednesday for 90 days — while raising levies on goods from China.
"We are doing really well on our tariff policy," Trump said in a post on his Truth Social network after China announced its latest hike.
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