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China is not backing down. On Friday, Beijing announced<\/a> plans to raise retaliatory tariffs on the United States from 84 percent to 125 percent, to go into effect on Saturday.<\/p>\n This marks the third massive countermeasure between the two superpowers in recent weeks, and it comes after U.S. President Donald Trump put a 90-day pause<\/a> on new so-called reciprocal tariffs for all U.S. trading partners except China. (Other countries still face a universal 10 percent levy from the United States.)<\/p>\n<\/p><\/div>\n China is not backing down. On Friday, Beijing announced<\/a> plans to raise retaliatory tariffs on the United States from 84 percent to 125 percent, to go into effect on Saturday.<\/p>\n This marks the third massive countermeasure between the two superpowers in recent weeks, and it comes after U.S. President Donald Trump put a 90-day pause<\/a> on new so-called reciprocal tariffs for all U.S. trading partners except China. (Other countries still face a universal 10 percent levy from the United States.)<\/p>\n The United States\u2019 trade actions \u201cwill become a joke in the history of the world economy,\u201d China\u2019s Finance Ministry said in a statement<\/a> on Friday. \u201cHowever, if the U.S. insists on continuing to substantially infringe on China\u2019s interests, China will resolutely counter and fight to the end.\u201d China\u2019s Commerce Ministry said it plans to file another lawsuit with the World Trade Organization against the Trump administration\u2019s actions.<\/p>\n U.S. tariffs on China now total a minimum rate of 145 percent<\/a>, including the increased 125 percent<\/a> duty that Trump announced on Wednesday on top of the 20 percent levy that he issued near the start of his second term.<\/p>\n China\u2019s tariffs on the United States, meanwhile, will affect key U.S. exports, such as soybeans, pharmaceuticals, and aircraft. Last week, China also suspended imports from some U.S. companies that sell sorghum, poultry, and bonemeal, and it placed more export controls on Chinese rare earths.<\/p>\n \u201cThere are no winners in a tariff war, and going against the world will only result in self-isolation,\u201d Chinese President Xi Jinping said on Friday in his first public comments since the tit-for-tat escalation began.<\/p>\n Read more in today\u2019s World Brief: China Retaliates With a 125 Percent Tariff on U.S. Goods<\/strong><\/a><\/p>\n<\/p><\/div>\n This post is part of FP\u2019s ongoing coverage of the Trump administration<\/i>. <\/i>Follow along here<\/a>.<\/em><\/p>\n<\/p><\/div>\n<\/p><\/div>\n