China Escalates With 125% Tariff On US Imports, Signals Will "Ignore" Future Retaliation

round the close of Hong Kong trading hours, Beijing retaliated against President Trump's tariffs by hiking levies on U.S. goods to 125%, up from the prior 84%. In a notable shift, the Chinese Communist Party announced it would "no longer respond" to any further tariff increases from Washington. 

As the week concludes, the U.S. and China are locked in a heated, once-in-a-century trade war. Earlier, President Trump announced a 90-day suspension of additional country-specific tariffs for countries that have refrained from taking retaliatory measures—an apparent attempt to isolate China and use tariffs to get Beijing to strike a trade deal.

The State Council Tariff Commission announced that China will raise tariffs on U.S. goods from 84% to 125% effective Saturday. The move comes in direct response to President Trump's effective tariff rate on Chinese imports, which now totals a whopping 145%.