In a bold move, China has raised its tariff on US goods to 125%, matching the rate set by the Trump administration, and warned that the US is on track to become an economic "joke" if it continues to escalate the trade war. This latest hike marks the fourth time China has retaliated against the US, with the country's Ministry of Finance stating that any further tariffs from the US side would "no longer make economic sense."

The tariff increase is seen as a significant escalation in the ongoing trade tensions between the two nations. China's Ministry of Finance stated that at the new tariff rate of 125%, there is no longer any "market acceptance for US goods exported to China," making further tariff hikes unnecessary. However, the country did not rule out other forms of retaliation, warning that if the US continues to "substantially infringe on China's interests," it would "resolutely counterattack and fight to the end."

This move comes on the heels of several other retaliatory measures taken by China, including reducing the number of Hollywood films permitted to release in the country and restricting import and export rights for several US companies. The trade war has already had significant consequences for businesses on both sides, with many companies passing on the increased costs to consumers.

Industry experts warn that the ongoing trade tensions could have far-reaching consequences for the global economy. "The trade war is already having a ripple effect on supply chains and consumer prices," said Dr. Sophia Patel, an economist at the University of California. "If this continues, we could see a significant slowdown in economic growth and even recession."

The impact of the trade war is already being felt in the tech industry, with companies like OnePlus and Razer facing increased costs and uncertainty. The situation has also raised concerns about the future of global trade and the potential for further retaliation.

As the trade war continues to escalate, many are left wondering what the endgame is for both countries. Will the US and China be able to reach a trade agreement, or will the tariffs continue to rise, causing further economic instability? One thing is certain: the world will be watching closely as this situation unfolds.