• Hits US with 125pc tariff hike; tells Washington to stop ‘destructive behaviour’
• UN economist sees 3pc fall in global trade
• Fed official says tariffs will push up inflation, unemployment
• US senators ask SEC for insider trading probe against Trump

BEIJING: China increased its tariffs on US imports to 125pc on Friday, hitting back against US President Donald Trump’s decision to hike duties on Chinese goods and raising the stakes in a trade war that threatens to upend global supply chains.

Although it indicated this would be the last time it matched US tariff rises, Beijing has nevertheless left the door open for other types of retaliation.

“If the US truly wants to have talks, it should stop its capricious and destructive behaviour,” Liu Pengyu, spokesperson for the Chinese Embassy in the US, wrote on social media.

But despite the spiralling trade war, the US president insisted that his tariff policy was “doing really........

© Dawn Business