China hits back at Trump tariff hike

Beijing on Friday increased its tariffs on US imports to 125 percent, hitting back against US President Donald Trump's decision to hike duties on Chinese goods to 145 percent and raising the stakes in a trade war that threatens to upend global supply chains.

- (Reuters)

China's retaliation intensified the economic turmoil unleashed by Trump's tariffs, with markets tumbling further and foreign leaders puzzling how to respond to the biggest disruption to the world trade order in decades.

The brief reprieve for battered stocks seen after Trump decided to pause duties for dozens of countries for 90 days quickly dissipated, as attention returned to the escalating trade conflict between the US and China that has fueled global recession fears.