China Slams US Goods with Tariffs, Increasing Rate from 84% to 125%

China has responded to increased tariffs from the US by raising its own duties on American goods from 84% to 125%, effective Saturday. The move marks a new escalation in the trade war between the two nations.

The US and China have been locked in a tit-for-tat tariff battle, with each side seeking to gain an advantage over the other. "The US alternately raising abnormally high tariffs on China has become a numbers game, which has no practical economic significance, and will become a joke in the history of the world economy," said a Finance Ministry spokesman.

"However, if the US insists on continuing to substantially infringe on China's interests, China will resolutely counter and fight to the end."

China is also filing another lawsuit with the World Trade Organization against the US tariffs. The country has already taken several retaliatory measures, including suspending imports from some American companies and imposing export controls on rare earth minerals.

"The trade war between the US and China could severely damage the global economic outlook," warned Ngozi Okonjo-Iweala, head of the WTO. As the world's two largest economies, experts fear that a prolonged trade war could have far-reaching consequences for global economic stability.