Nigeria, April 12 -- The ongoing trade conflict between the United States and China escalated sharply on Friday after Beijing announced a significant increase in tariffs on American goods, hiking duties to 125%.

The move came in direct response to President Donald Trump's recent decision to increase tariffs on Chinese imports, which now face a cumulative rate of approximately 145%. This tit-for-tat escalation is deepening global economic uncertainty and prompting a flight from U.S. assets, raising fresh concerns among investors and economists.

According to China's Ministry of Finance, the latest tariff hike is in line with its domestic trade laws, characterizing Washington's actions as "unilateral coercion" that violate established inte...