China Raises Tariffs on U.S. Imports to 125%

China responded to President Trump’s tariffs on Friday, raising its own tariffs on American goods to 125 percent, from 84 percent.

The announcement by China’s State Council came after Trump administration officials clarified on Thursday that China was now facing a minimum tariff rate of 145 percent on all exports to United States.

China said its new tariffs will take effect on Saturday.

This is a developing story. Check back for updates.