American tariffs on Chinese goods have surged to 145% following President Donald Trump's latest increase, according to a White House official quoted by CNBC on Thursday.
Yesterday, Trump shifted strategy, implementing a standard 10% duty for global trading partners, excluding the Asian giant.
Chinese authorities have criticized the US government for wielding tariffs "as a weapon" following Trump's decision to increase levies on Chinese products to 125%, shortly after implementing a 104% increase.