President Donald Trump will impose an additional 84% tariff on all imports from China, White House Press Secretary Karoline Leavitt announced today. This means that all goods from the country will be subject to a minimum tariff of 104%.
Chinese tariffs were already scheduled to increase by 34% on Wednesday as part of Trump’s “reciprocal” tariffs package. However, the President added a further 50% after Beijing failed to withdraw its pledge to impose 34% retaliatory tariffs on US imports by midday Tuesday—bringing the total additional levies to 84%.
Meanwhile, retaliatory tariffs are expected to come into effect in over 60 other nations. According to Leavitt, the President has instructed his trade team to pursue “tailor-made” agreements with leaders who are open to negotiation.
Earlier on Tuesday, China’s Ministry of Commerce stated that it “firmly opposes” the additional 50% tariffs on Chinese goods, describing them as “a mistake upon a mistake.” The Chinese government also threatened to intensify its punitive measures against US exports.
Following Leavitt’s remarks, US equities—which had been up earlier in the day—fell sharply by the close of trading.
Content retrieved from: https://www.firstpost.com/world/trumps-reciprocal-tariffs-take-effect-today-china-faces-104-levy-13878368.html.
