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China Raises Tariffs On US Goods To 125%

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China has raised tariffs on US goods to 125% from 84%, escalating tensions amid an ongoing trade war. The Customs Tariff Commission stated that higher US tariffs “no longer make economic sense†and would become a “joke in the history of world economyâ€. With current tariff levels, the commission claimed there is no longer a viable market for US imports into China. The Trump administration confirmed US tariffs on Chinese goods have reached 145%. Beijing warned it would ignore any further tariff hikes and pledged to “resolutely counter-attackâ€. US Treasury Secretary Scott Bessent criticized China for being the “worst offenders†in global trade and labeled their economic model as deeply imbalanced. Goldman Sachs cut its China GDP forecast to 4%, citing trade tensions and slowing global growth, noting that up to 20 million Chinese workers could be affected. Hopes for a trade resolution have dimmed as both nations continue to impose retaliatory measures and tighten restrictions on each other’s businesses.

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