China calls Trump's trade war a joke, jumps tariffs on U.S. goods to 125%

In the latest trade back-and-forth, China has surged its tariff rate on US goods from 84% to 125%, at the same time saying it won't negotiate if the U.S. continues to engage in 'trade blackmail.' China's Ministry of Commerce | Image credit: N509FZ at Wikimedia CommonsStarting on April 12, the Chinese government will raise tariffs on all U.S. goods by another 41%. This increase comes two days after the last increase, saw tariffs surge from 34% to 84%.In a statement released by China's State Council Tariff Commission, spotted by Bloomberg, China has declared that it will raise tariffs from 84% to 125%. It then said that because of the prohibitively high tariff level, there is no market for American goods. Continue Reading on AppleInsider | Discuss on our Forums