World War Fee: Middle Kingdom retaliates against White House's 'instrument and weapon to bully and coerce'

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."

Beijing punched back with tariffs of 125 percent on all U.S. goods on Friday in response to President Donald Trump’s tariff increases, sharply escalating the spiraling trade tensions between the United States and China. The response underscored China’s decision to stand firm in the face of pressure from Washington and deepened the showdown between the world’s two largest economies. “If the U.S. insists on substantively damaging China’s interests, China will firmly retaliate and fight to the end,” China’s State Council said in a statement. The move came after Trump increased the levies on Chinese goods to 145 percent on Wednesday, while also announcing that the tariffs he had previously imposed on more than six dozen other countries would be fixed at 10 percent during a 90-day pause. The State Council derided Trump’s move to continue ratcheting up the levies and said it would ignore further hikes. The tariffs are a “joke” and “no longer have any economic significance,” its statement said, because the current levels…

Beijing escalated trade tensions with Washington on Friday by raising tariffs on U.S. goods to 125%, a direct response to the Trump administration’s decision to increase duties on Chinese imports to 145%. The move intensifies a protracted trade conflict that analysts warn could destabilize global supply chains and economic stability.…