China hits back at Trump’s tariff hike with 125% duties on U.S. goods

News Snapshot:

Beijing on Friday increased its tariffs on U.S. imports to 125 per cent, hitting back against U.S. President Donald Trump's decision to hike duties on Chinese goods to 145 per cent, raising the stakes in a trade war that threatens to upend global supply chains. The countermeasures take effect on Saturday. The hike comes after the White House kept the pressure on the world's No. 2 economy and second-biggest provider of U.S. imports by singling it out for an additional tariff increase, having paused most of the "reciprocal" duties imposed on dozens of other countries for 90 days. WATCH |...