China Hits Back Hard, Escalates Trade War With 125% Tariffs on U.S. Goods

China is 'not scared' of the USA, according to Xi Jinping

China has raised tariffs on U.S. imports to 125%, retaliating forcefully against President Trump’s latest tariff hike and escalating a trade war that is now shaking global markets.

Beijing’s announcement follows Trump’s decision to raise tariffs on Chinese goods to 145% earlier this week. In a statement, China’s Ministry of Finance condemned the U.S. act…