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“The United States has continuously introduced tariff measures, bringing enormous uncertainty and instability to the world, causing chaos both internationally and domestically within the U.S.,” Mr. Wang added.<\/p>\n

Beijing said Friday that its 125% tariffs on U.S. goods would take effect on Saturday \u2014 almost matching the staggering 145 percent levies imposed by Washington on Chinese goods entering the United States.<\/p>\n

But China indicated that it would ignore any further levies by U.S. President Donald Trump because, Beijing said, it no longer makes economic sense for importers to buy from America.<\/p>\n

China also said it would file a lawsuit with the WTO over the latest round of levies.<\/p>\n

After a week of market mayhem as the world’s two largest economies took turns to put up trade barriers, Beijing dismissed Mr. Trump’s mounting brinkmanship as a “joke” and a “numbers game”.<\/p>\n

Beijing’s retaliation sparked fresh market volatility, with stocks seesawing, gold prices surging and US government bonds under pressure. <\/p>\n