Beijing Raises Stakes by Hiking Duties

Beijing on April 11 increased its tariffs on US imports to 125 percent, hitting back against 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.

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Even before Beijing's move, the brief reprieve for battered stocks seen after Mr. Trump earlier in the week decided to pause duties for dozens of countries for 90 days quickly dissipated. Global stocks fell, the US dollar slid, and gold—a haven for investors in times of crisis—scaled a record high. Asian