China raises tariffs on US goods to 125% as trade war ramps up

China will raise the additional tariffs on products imported from the United States to 125 percent, effective from Saturday, the Customs Tariff Commission of the State Council in Beijing announced Friday.

The news comes after the United States raised its "reciprocal tariffs" on Chinese imports, according to Xinhua.

The commission stated that the United States' imposition of unjustly high tariffs on China violates international economic and trade regulations, contradicts basic economic laws and common sense, and is nothing more than bilateral intimidation and coercion.

Even if the United States imposed even greater tariffs, the panel believes it would no longer make economic sense and would eventually be seen as a joke in world economic history, Xinhua reported.

However, if the United States continues to significantly undermine China's interests, China will take strong countermeasures and battle until the end, according to the commission.