April 11, 2025 4:47 PM

China raises duties on US goods to 125%, calls Trump tariff hikes a ‘joke’

China hiked its levies on imports of U.S. goods to 125% on Friday, hitting back at Donald Trump's decision to single out the world's No.2 economy for higher duties, while dismissing the U.S. president's tariff strategy as "a joke." Investors had been waiting to see how Beijing would respond to Trump's move on Wednesday to effectively raise tariffs on Chinese goods to 145% while announcing a 90-day pause on duties on dozens of other countries' goods. The yuan slipped to levels last seen during t...