China lifts tariffs on US goods to 125%

AFP | Beijing

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China said yesterday it would raise its tariffs on US goods to 125% in a further escalation of a trade war that threatens to bring exports to a halt between the world’s two biggest economies.

In a sign of investors’ worries about the health of the US economy under President Trump’s erratic stewardship, the dollar fell to a three-year low against the euro and by 1.3% against the yen.

In Beijing, China’s State Council Tariff Commission said new tariffs of 125% on US goods would take effect today, almost matching the staggering 145% level imposed on Chinese goods coming into America.

A Commerce Minis - try spokesperson said the United States bore “full responsibility for this”, deriding Trump’s tariffs as a “numbers game” that “will become a joke”.