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China hikes tariffs on US goods to 125%, hitting back at Trump
The Island
|April 12, 2025
Beijing yesterday announced it has increased its tariffs on US imports to 125 percent.
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This comes after the White House on Thursday clarified that it was actually imposing tariffs totalling 145 percent on China, combining the previously announced 125-percent rate with a 20-percent import tax levied for fentanyl smuggling.
Global stocks fell, the dollar slid and a sell-off in US government bonds picked up pace on Friday as a result.
On Thursday, the EU European Union put its counter tariffs on hold after Trump announced a 90-day pause on his “reciprocal tariffs” on nearly 60 countries while keeping a baseline 10 percent tariff in place.
US President Donald Trump’s abrupt decision to implement a 90-day pause on the tariffs he imposed on dozens of countries has sent battered stock markets surging, even as he ratcheted up his trade war with China.
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