China hits back, hikes tariffs on US goods to 125% from 84%

 China on Friday struck back at President Trump's ballooning tariffs, raising its duties on imports of US goods to 125% from 84%.

The countermeasures will come into effect Saturday, further intensifying a US-China trade war that has roiled US stocks. The trade conflict has weighed on investor sentiment, even as Trump instituted a 90-day pause on steep Liberation Day tariffs and the EU matched a US pause on retaliatory duties.

The Trump administration warned Chinese officials against retaliation before the measures were announced and said that Chinese President Xi Jinping should request a call with President Trump, CNN reported Friday.

Beijing hinted it would not engage in further tariff hikes — even if Washington continues its escalations.

The White House clarified on Thursday that US tariffs on Chinese imports are now at least 145%, not the 125% that Trump had said previously.

Trump and members of his Cabinet attempted to reassure investors that things would "work out" with China. Treasury Secretary Scott Bessent said he was confident the US would be in a place of "great certainty" after the "pause" as the administration looks to negotiate new trade deals with partners.

Meanwhile, the baseline 10% tariff that went into effect on April 5 remains in place for all affected imports into the U.S.

In terms of the United States–Mexico–Canada Agreement (USMCA), compliant goods are imported tariff-free when traded among the three countries, while non-compliant goods are tariffed at 25% — except for energy and potash, which are tariffed at 10%.

https://finance.yahoo.com/news/live/trump-tariffs-live-updates-china-hits-back-hikes-tariffs-on-us-goods-to-125-from-84-191201925.html