China Escalates Trade War, Slaps 125% Tariffs on U.S. Goods as Talks Stall

China has raised its tariffs on U.S. goods from 84% to 125%, following the ongoing trade tensions between the two countries. This significant increase in tariffs, effective April 12, comes just two days after a previous hike from 34% to 84%. China's State Council Tariff Commission has stated that these high tariffs have rendered American goods uncompetitive in the Chinese market. The country emphasizes it is open to negotiation but demands an approach based on mutual respect and equality, rejecting what it calls 'trade blackmail' by the U.S. Meanwhile, President Trump has authorized a 90-day pause on new tariffs for most countries, excluding China, and announced that he is awaiting a call from Beijing. The Chinese Ministry of Commerce also criticized the Trump administration's tariff policies, calling them economically meaningless and ultimately a joke.