China Raises Tariffs on U.S. Goods to 125% as U.S. Imposes 145% Tariff, Calls Policy Erroneous

China has raised tariffs on all United States goods from 84% to 125% in retaliation to recent tariff hikes imposed by U.S. President Donald Trump. This escalation in the ongoing trade war between the two largest economies comes after the U.S. implemented a 145% tariff on Chinese imports. Chinese officials have criticized the U.S. policy as 'erroneous' and have warned that consumers in the United States will bear the consequences of this trade conflict. Furthermore, China has stated it will no longer respond to any future tariff increases from Washington, which it describes as 'unilateral bullying.'