Washington April 11 (KNS): China on Friday said it would raise tariffs on US goods to 125 percent, hours after President Xi Jinping urged the European Union to join hands with Beijing in resisting “unilateral bullying”, referring to the massive tariffs imposed by President Donald Trump on imported Chinese goods and on goods from the bloc.

The new levy, which will come into effect on Saturday, was announced after Trump raised the tariffs for China to a staggering total of 145 percent, further escalating the ongoing trade war between the world’s two top economies.

“The US’s imposition of abnormally high tariffs on China seriously violates international trade rules, basic economic laws and common sense,” Beijing’s State Council Tariff Commission said in a statement shared by the finance ministry.Click Here To Follow Our WhatsApp Channel

China also said it would “ignore” further tariff hikes by President Trump as US goods would no longer make economic sense for importers.

Earlier in the day, President Jinping met his Spanish counterpart, Pedro Sanchez, in Beijing and stressed that there are “no winners” in tariff wars.

State-run news agency Xinhua said the Chinese President also warned the European Union it needed to cooperate with China so the two can ride out the mounting trade war with Washington.

“China and Europe should fulfil their international responsibilities… and jointly resist unilateral bullying practices,” he said, asserting this would not only “safeguard legitimate rights and interests… but also safeguard international fairness and justice.”(AGENCIES)