US President Donald Trump has announced a 90-day pause on higher tariffs for about 60 US trading partners, but the trade war with China has escalated. 

Trump further increased tariffs on Chinese goods to 125%, citing China’s “lack of respect” after Beijing retaliated with 84% tariffs on US imports.

China has slapped retaliatory tariffs of 84% on all US imports, up from the 34% previously announced deepening a trade war between both countries.

Apart from tariffs, China has also slapped restrictions on more than a dozen US firms which, among other things, prohibit their executives from entering China or ban them from investing in the country.

The European Union has also approved retaliatory tariffs against the US, ranging from 10% to 25%, to be implemented in phases with some taking effect next week, and others in mid-May and December.

The EU says while it prefers negotiations over the escalating trade dispute, it was ready to take further actions against the US if needed.

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