China Raises Tariffs on US Goods to 125%, Trump Defends Strategy

President Donald Trump defended his tariff policy on Friday, claiming it is 'doing really well' despite China's decision to raise tariffs on U.S. goods to 125%, deepening the ongoing trade war. The announcement of increased tariffs from both nations has led to significant fluctuations in global financial markets, with investors reacting negatively by dumping U.S. government bonds and causing the dollar to tumble. Trump expressed optimism about a potential deal with China, stating that other countries have offers on the table during a temporary 90-day pause on tariffs for them. Chinese President Xi Jinping responded by asserting that China is 'not afraid' of the trade conflict and called for a united front against what he termed 'unilateral bullying' by the U.S. The escalating tensions have raised concerns about the future of trade relations between the two largest economies, as both sides refuse to back down. Following these developments, a spokesperson for the Chinese Commerce Ministry criticized Trump’s tariffs as a 'numbers game.'