The White House has revealed that the cumulative duties imposed by the Donald Trump administration on Chinese goods have reached a staggering 145%.
This marks a significant escalation in the ongoing trade tensions between the United States and China.
Key Details:
- Breakdown of Tariffs: The 145% total includes a 125% tariff introduced in response to China’s alleged unfair trade practices, combined with a 20% tariff implemented earlier in Trump’s second term to address China’s failure to curb fentanyl exports.
- Impact on Trade: The tariffs are expected to disrupt supply chains and increase costs for American consumers. Transportation carriers must now choose between an ad valorem duty or a fixed-dollar-figure duty for shipments from China.
- China’s Response: Beijing has vowed to counter these measures, raising its own tariffs on U.S. goods to 84% and imposing restrictions on American companies.
- Global Reactions: The European Chamber of Commerce in China has criticized the tariffs, warning of higher operational costs and inefficiencies for businesses.