United States President Donald Trump is in no mood to relent his trade war against major economies including China. While China has retaliated against US tariffs, Trump has gone ahead with an additional 50% tariffs in response to Beijing’s countermeasures.
The White House has announced that the United States will now impose a record-high 104% tariff on goods imported from China. This development follows a 24-hour ultimatum issued by President Trump, demanding that China withdraw the 34% retaliatory tariff it had recently imposed on American products. When Beijing refused to comply and challenged Washington to proceed, President Trump responded by implementing the steep tariff.
Till last month, the US had levied a 10% tariff on Chinese imports, which Trump claimed resulted in substantial financial losses for the American economy. In response, he introduced a “reciprocal tariff” policy, under which the US would impose tariffs equivalent to half the rate that foreign countries charge on American goods. In China’s case, this meant an extra 34%, raising the total US tariff on Chinese goods to 44%.
Shortly after Trump’s announcement, the White House declared an additional 10% non-reciprocal tariff on all global imports. Officials said this was intended to bolster the US Federal Reserve. As a result, China’s total tariff burden on its exports to the US has now reached 54%.
Yesterday, Chinese state media Global Times lashed out at Trump’s policies calling the reciprocal tariffs against international rules. “The US, under the guise of reciprocity, acts in a hegemonic manner, sacrificing the legitimate interests of other countries and placing “America First” above international rules,” said a report in the Global Times.
The report quoted Chinese Foreign Ministry spokesperson Lin Jian saying that the tariff war is a typical example of unilateralism, protectionism, and economic bullying. Jian further noted that the Chinese government has issued its stern stance in opposing the US abuse of tariff measures, and the US’s abuse of tariffs equates to depriving countries—especially those in the Global South—of their right to development.
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