China said on Friday it would raise tariffs on US goods to 125 percent, further deepening a trade war between the world's two largest economies.

"The US's imposition of abnormally high tariffs on China seriously violates international trade rules, basic economic laws and common sense," Beijing's State Council Tariff Commission said in a statement shared by the finance ministry, adding that the new levy comes into effect on Saturday.

China also said it would "ignore" further tariff hikes by the United States because US goods would no longer make economic sense for importers.

State media also reported China would file a lawsuit with the World Trade Organization over Washington's fresh tariffs.