China Hits Back at USA and Will Raise Tariffs on American Goods

China Announced That It Will Raise Tariffs on US Goods From 84 Percent to 125 Percent This Friday

- ASSOCIATED PRESS

China announced Friday that it will raise tariffs on US goods from 84 percent to 125 percent—the latest salvo in an escalating trade war between the world's two largest economies that has rattled markets and raised fears of a global slowdown.

While US President Donald Trump paused import taxes this week for other countries, he raised tariffs on China and they now total 145 percent. China has denounced the policy as "economic bullying" and promised countermeasures. The new tariffs begin Saturday.