China said Friday it would raise tariffs on U.S. goods to 125% but would ignore further levies by U.S. President Donald Trump because it no longer makes economic sense for importers to buy from America.
After a week of market mayhem as the world's two largest economies took turns to put up trade barriers, Beijing dismissed Trump's mounting brinkmanship as a "joke" and a "numbers game."
China accused Trump of unleashing turbulence in the market with the tariffs that have hit the world, and said the United States "should bear full responsibility" for the chaos.
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