China Raises Tariffs on US Imports to 125 Percent

Beijing announced on Friday it will increase tariffs on U.S. imports from 84 percent to 125 percent, in retaliation against the U.S. decision to hike duties on Chinese goods to a total of 145 percent.

The new tariff rate will come into force on Saturday, China’s Ministry of Finance announced.

The White House confirmed on April 10 that U.S. tariffs on Chinese goods have risen to 145 percent, factoring in the earlier 20 percent tariffs imposed in connection with fentanyl trafficking.

This is a developing story and will be updated.