China hits back with 125% tariffs

April 11, 2025 (MLN): In a fiery escalation of the ongoing trade war, China has raised tariffs on U.S. goods to a steep 125%, countering President Donald Trump’s global tariff policy.

In response, the U.S. has slapped a 145% levy on certain Chinese imports, pushing relations between the world’s two largest economies to new lows.

Chinese President Xi Jinping has urged the European Union to unite with Beijing against what he called "bullying" tactics by the U.S., warning that "there are no winners in a tariff war."

Despite the tough talk, President Donald Trump appeared cautiously optimistic, stating that he still hopes for a resolution:

"We’ll end up working something out that’s very good for both countries," he told reporters.

As markets react to the heightened uncertainty, gold prices have soared to an all-time high, with investors piling into safe-haven assets amid fears of a prolonged trade standoff.

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