'We’re Doing Really Well On Our Tariff Policy,' Says Trump

US President Donald Trump on Friday declared that the United States is making strong progress on its trade strategy, particularly tariffs. In a post on Truth Social, Trump wrote:
"We are doing really well on our TARIFF POLICY. Very exciting for America, and the World!!! It is moving along quickly. DJT"

His comments come amid growing tensions between the U.S. and China over trade and tariffs.

China Responds with Matching Tariffs

On the same day, China announced that it would increase tariffs on U.S. goods to 125%, effectively matching the latest round of U.S. tariffs. However, Beijing also said it would not raise them any further.

The new Chinese tariffs, set to take effect on April 12, will hit around $144 billion worth of U.S. exports, particularly agricultural products like soybeans.

A Prolonged Trade War

This latest move continues a tit-for-tat trade battle that has affected hundreds of billions of dollars in goods between the world’s two largest economies. The U.S. currently charges 145% on Chinese imports — made up of the 125% retaliatory tariff and an earlier 20% levy linked to disputes over fentanyl exports.

Chinese officials pushed back sharply, calling the American tariffs a “joke.” In a statement reported by Bloomberg, China’s Ministry of Finance said:
“Given that American goods are no longer marketable in China under the current tariff rates, if the U.S. further raises tariffs on Chinese exports, China will disregard such measures.”

Markets React Cautiously

The announcement from Beijing rattled financial markets.

European stocks, which were in positive territory early in the day, turned negative after the Chinese announcement. U.S. stock futures also dipped slightly in pre-market trading.

Yields on U.S. Treasury bonds rose modestly, with the 10-year yield at 4.407%, still below its overnight peak.

What’s Next?

Though the raised tariffs mark an escalation, China’s decision to cap them at 125% may leave room for negotiation. For now, however, both sides appear locked in a high-stakes standoff — with the global economy watching closely.