China again raised tariffs on U.S. goods, now hiking them to 125% in retaliation to President Donald Trump's latest trade escalation.
Beijing dismissed the move as a joke, with the Finance Ministry saying in a statement that the "U.S. side's imposition of excessively high tariffs on China seriously violates international economic and trade rules, runs counter to basic economic principles and common sense, and is simply an act of unilateral bullying and coercion."
