China ups tariffs on US goods to 125%, calls Trump's war a 'joke'

World War Fee China is upping tariffs on US imports to 125 percent, branding the Trump administration's tax policies a "joke."

The retaliatory action comes days after the US government elevated levies against its arch enemy to 145 percent, claiming Beijing had shown "little respect" by hiking its tariffs to 84 percent, which was itself in response to earlier action taken by America at the start of this month.

The Chinese Ministry of Finance confirmed today the increase will take effect from tomorrow, April 12.

It's the last such action China will take, per the Finance Ministry, with the Commerce Ministry adding that China considers the current tariff levels to be economically meaningless.

By that, it means China doesn't rely on imports from the US to anywhere near the same degree as America relies on imports from China, and thus the matching tariffs on American gear coming ...