China will raise its tariffs against the U.S. to 125% from Saturday in the latest escalation in the burgeoning trade war, the finance ministry announced today. Beijing said that the U.S. tariffs against China defy 'basic economic laws and common sense' after Donald Trump raised the rate on Chinese imports to 125%. The new duties are a significant climb from the 84% announced on Wednesday, rising to meet the current U.S. tariffs imposed on Chinese goods. A statement from the finance ministry said the imposition of 'abnormally high tariffs' amounted to 'unilateral bullying and coercion'. Beijing added that it would not respond to any more tariffs imposed by the U.S. Read more at DailyMail.com #china #usa #trump #republican #tariffs #bejing #money