JUST IN: China strikes back with 125% tariffs on U.S. goods, starting April 12

China has retaliated against the U.S. President Donald Trump’s reciprocal tariffs by raising its levies on U.S. goods to 125% from 84%, Customs Tariff Commission of the State Council said in a statement on Friday, according to a government statement on Friday.

“Even if the U.S. continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of world economy,” the statement said, according to a CNBC translation.

“If the US continues to impose tariffs on Chinese goods exported to the US, China will ignore it,” it said.

(CNBC)