China said it would increase its retaliatory tariffs on US goods to 125 per cent, in the latest escalation of the trade war between the world’s two biggest economies.
China’s finance ministry said the increase from current additional levels of 84 per cent would take effect from April 12.
But the ministry added that it would ignore any further US tariff rises on Chinese exports, “given that at the current tariff level, there is no market acceptance for US goods exported to China”.
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