China raises tariffs on US goods to 125 per cent

China has announced an increase in tariffs on US goods to 125 per cent, marking a sharp escalation in trade tensions between the two nations. The move comes as part of an ongoing tit-for-tat strategy, with Beijing imposing higher duties on American imports to pressure Washington. This follows previous rounds of tariff hikes, which have disrupted global supply chains and prompted shifts in trade patterns. Australian exports are surging into the gap created by the escalating US-China tariffs. With US companies scaling back their operations in China, Australian firms are capitalizing on the opportunity to export more goods to the US market. This shift highlights the broader economic realignments occurring as a result of the trade war, with Australia positioning itself as a new player in the global trade landscape.