US warns of imposing a 245% tariff on China
Chinese imports to the US could face tariffs of up to 245%, according to a fact sheet from the White House issued on Tuesday. This warning highlights the escalating trade conflict between the two largest global economies. The administration...
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Chinese imports to the US could face tariffs of up to 245%, according to a fact sheet from the White House issued on Tuesday. This warning highlights the escalating trade conflict between the two largest global economies.
The administration of US President Donald Trump attributed the potential tariff increase to Beijing's retaliatory measures against previous tariffs. “China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions,” states the fact sheet; however, the document does not specify when this increase would take effect.
In recent months, Washington has enacted significant tariffs on imports from China, raising duties from an initial 20%. In response, Beijing has implemented its own measures, including increasing tariffs on American imports to 125%, suspending the global shipment of rare-earth metals and magnets crucial for technology and military use, and instructing Chinese airlines to cease the acceptance of Boeing jets and parts.
The ongoing conflict with China is part of a larger US tariff initiative targeting multiple countries. Trump maintains that these tariffs are intended to address the US trade deficit with its trading partners.
Amid financial market turmoil, the US administration has temporarily paused tariff increases for most countries to facilitate trade negotiations, with the exception of China.
White House Press Secretary Karoline Leavitt stated on Tuesday that Trump is open to negotiating a trade deal with China, but emphasized that Beijing should initiate the process.
China has condemned the US tariffs, describing them as “a weapon to exert extreme pressure and pursue private interests” and engaging in “unilateral economic bullying.” The country has pledged to continue taking “resolute measures to safeguard its legitimate interests.”
Camille Lefevre contributed to this article for TROIB News
The administration of US President Donald Trump attributed the potential tariff increase to Beijing's retaliatory measures against previous tariffs. “China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions,” states the fact sheet; however, the document does not specify when this increase would take effect.
In recent months, Washington has enacted significant tariffs on imports from China, raising duties from an initial 20%. In response, Beijing has implemented its own measures, including increasing tariffs on American imports to 125%, suspending the global shipment of rare-earth metals and magnets crucial for technology and military use, and instructing Chinese airlines to cease the acceptance of Boeing jets and parts.
The ongoing conflict with China is part of a larger US tariff initiative targeting multiple countries. Trump maintains that these tariffs are intended to address the US trade deficit with its trading partners.
Amid financial market turmoil, the US administration has temporarily paused tariff increases for most countries to facilitate trade negotiations, with the exception of China.
White House Press Secretary Karoline Leavitt stated on Tuesday that Trump is open to negotiating a trade deal with China, but emphasized that Beijing should initiate the process.
China has condemned the US tariffs, describing them as “a weapon to exert extreme pressure and pursue private interests” and engaging in “unilateral economic bullying.” The country has pledged to continue taking “resolute measures to safeguard its legitimate interests.”
Camille Lefevre contributed to this article for TROIB News
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