Trump further raises tariffs on Chinese goods by 21% to 125% – over 75 countries get 10% for 90 days
Well, that didn’t take long. Mere hours after China announced it would raise tariffs on good imported from the US from 34% to 84%, United States president Donald Trump has hit back by slapping China with an additional 21% tariff.
With this, the total tariff imposed on China by the US is now 125%. Trump took to Truth Social to make the announcement. “Based on the lack of respect that China has shown to the world’s markets, I am hereby raising the tariff charged to China by the United States of America to 125%, effective immediately,” he said in a post on his social media site.
Trump also said more than 75 countries have called US representatives to negotiate tariffs and have not “retaliated in any way, shape or form against the United States.” As a result, Trump has postponed the individualised tariffs that these countries are subject to for 90 days, although they are still being imposed with the 10% baseline tariff during the pause.
If you need a recap of the tit for that saga, it all began in February this year when Trump announced tariffs of 25% on Canada and Mexico, while China would face a 10% tax. China would respond by imposing its on tariffs on various US-made goods, including agricultural machinery, large-displacements cars as well as pick-up trucks the same month.
These tariffs came into effect on March 4, at which point Trump said the tariff on Chinese imports would be hiked to 20%. Next came a 25% tariff on imported cars that was announced on March 27 and went live on April 3, with the same rate set to apply to car parts later on May 3.
Following this, Trump announced, on April 2 (dubbed ‘Liberation Day), a series of “reciprocal tariffs” that included a baseline 10% on all countries, while individualised rates would apply to countries deemed as the “worst offenders.” China was subject to an additional 34%, which brought the total tariff charged by the US to 54% at this point.
In retaliation, China imposed a 34% on US imports on April 4, after which Trump threatened to tack on an additional 54% against China for a total of 104%, which has already gone into effect as of April 9. On the same day, China said it is increasing its tariff on the US from 34% to 84%, effective April 10. With the latest development, Trump is adding another 21%, bringing the total tariff imposed on China to 125%.
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