China said it would increase additional tariffs on U.S. goods to at least 125% from the current 84%, effective April 12. This move comes as Beijing faces a 145% levy on some of its exports to the U.S. Despite rising tensions, Donald Trump expressed hope for reaching “something very good for both countries.” China’s finance ministry announced it would not match further U.S. tariff increases, noting that “at the current tariff level, there is no market acceptance for U.S. goods exported to China,” and condemned the U.S. actions as "unilateral bullying and coercion" that violates international trade rules. While European markets started today positively, many Asian markets declined amid the growing uncertainty.