Trump defends tariff policy after China strikes back

• Hits US with 125pc tariff hike; tells Washington to stop ‘destructive behaviour’
• UN economist sees 3pc fall in global trade
• Fed official says tariffs will push up inflation, unemployment
• US senators ask SEC for insider trading probe against Trump

BEIJING: China increased its tariffs on US imports to 125pc on Friday, 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 upend global supply chains.