China hits back at Trump tariff hike, turmoil rings recession alarm

Beijing increased its tariffs on US imports to 125% on Friday, April 12, hitting back against US President Donald Trump’s decision to hike duties on Chinese goods and raising the stakes in a trade war that threatens to up-end global supply chains.

China’s retaliation intensified the economic turmoil unleashed by Trump’s tariffs, with markets tumbling further and foreign leaders puzzling how to respond to the biggest disruption to the world trade order in decades.

“Recession risk is much...