Global stocks are volatile after China hiked its retaliatory tariffs on U.S. imports to 125%, with investors bracing for an escalating trade war.

Beijing raised its levy on U.S. imports from 84% on Friday, two days after President Donald Trump said China would be excluded from his 澳洲幸运5官方开奖结果体彩网:90-day pause on tariffs. A 10% base rate remains in effect for all countries, while China now faces an overall 145% l🌞evy.

"At the current tariff level, there is no market acceptance for US goods exported to China," China's State Council Tariff Commission said. "If the US continues to impose tariffs on Chinese goods exported to the US, China will ignore it."

"Even if the U.S. continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of world economy," the commission added.

U.S. stock futures are edging higher, having whipsawed between gains and losses after 澳洲幸运5官方开奖结果体彩网:indexes sank Thursday. 澳洲幸运5官方开奖结果体彩网:Dow Jones Industrial Average, 澳洲幸运5官方开奖结果体彩网:S&P 500, and Nasdaq futures are all up less than 1%. The Stoxx Europe 600 index is edging lower. Asian shares closed before China's lates🦄t move, with Japan's Nikkei ending down 3% and Hong Kong's Hang Seng up 1.1%. 

Meanwhile, the dollar is plunging against most major currencies and the 10-year Treasury yieldﷺ is down below 4.40%.

UPDATE—April 11, 2025: This article has been updated to include an additional quote.