BEIJING (AP) — China has announced that it will raise tariffs on U.S. goods from 84% to 125%. It was the latest salvo in an escalating trade war between the world’s two largest economies that has rattled markets and raised fears of a global slowdown. While U.S. President Donald Trump paused import taxes this week for other countries, he raised tariffs on China and they now total 145%. China has denounced the policy as “economic bullying” and promised countermeasures. The new tariffs begin Saturday. A Chinese Finance Ministry spokesman said in a statement announcing the new measures Friday that Washington’s repeated raising of tariffs “will become a joke in the history of the world economy.”
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