China raises tariffs on US goods to 125%, threatening with other countermeasures

China has raised its tariffs on U.S. products to 125% in the latest salvo of the trade dispute with Washington, just hours after Xi Jinping said there were “no winners in a tariff war”, The Guardian writes.

Xi made the comments during a meeting with the Spanish prime minister in which he invited the EU to work with China to resist “bullying.”

The Chinese commerce ministry announced on Friday it was raising the 84% tariffs on all US imports to 125%, again saying that China was ready to “fight to the end”.

The statement also suggested it may be Beijing’s last move in the tit-for-tat tariff rises as “at the current tariff level, there is no market acceptance for U.S. goods exported to China”.

“If the U.S. continues to impose tariffs on Chinese goods exported to the U.S., China will ignore it,” it said, flagging that there were other countermeasures to come.