China hits back at Trump tariff hike, raises duties on US goods to 125%

Beijing on Friday increased its tariffs on U.S. imports to 125%, hitting back against U.S. President Donald Trump's decision to hike duties on Chinese goods to 145% and raising the stakes in a trade war that threatens to up-end global supply chains.

Meanwhile, the turmoil unleashed by Trump's tariffs showed few signs of easing on Friday, with markets tumbling and foreign leaders puzzling how to respond to the biggest disruption to the world trade order in decades.