China raises tariffs on US goods to 125%

China has announced a new 125% tariff on US imports. This is a sharp increase from the 84% rate set on April 9. The new tariff aligns with the current US tariff on Chinese goods.

This decision follows President Donald Trump's recent announcement. He declared a 90-day pause on higher tariffs for many countries. However, the US still increased tariffs on Chinese goods to 125%.

Earlier this month, Trump introduced a baseline tariff of 10%. This applies to all countries, with higher rates for "worst offenders." He noted that while elevated rates would be paused for 90 days, a reciprocal tariff of 10% would apply in the meantime.

Despite the pause for other nations, Trump stressed that the tariff on China would rise to 125%. He cited China's lack of respect for global markets as justification.