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China retaliated against new US tariffs by raising its own levies on US goods to 125%, claiming there's no longer a market for US imports. The US tariff rate on Chinese imports is now 145%. Despite the escalation, China says it remains open to negotiations. However, the US Treasury Secretary called China the "worst offender" in international trade, and Goldman Sachs lowered its China GDP forecast due to trade tensions. China vowed to "fight to the end" if the US continues its actions.

Prepared by Christopher Adams and reviewed by editorial team.