Thursday, 17 April 2025

President Trump Plans To Slap China With 104% Tariff


President Trump plans to impose an additional 50% tariff on China, bringing the total tariffs against China to 104%.

Trump’s additional 50% tariff on China will reportedly occur at midnight tonight if Beijing doesn’t withdraw its 34% tariff on the United States.

China reportedly will not budge its 35% tariff, and a spokesperson for China’s foreign ministry stated they will “fight till the end.”

Per The Independent:

Mr Trump said Washington will impose an extra 50 per cent levy on top of the existing 54 per cent tariff on Chinese imports if Beijing does not withdraw the 34 per cent tariffs it had imposed on US products last week. The total new levies could climb to 104 per cent on Chinese goods imported into the US this year.

The Chinese foreign ministry vowed its country would “fight till the end”, amid reports it is preparing for a US imports block, as it accused America of “typical unilateralism and protectionist economic bullying”.

It is not yet clear what counter-measures Beijing is planning to impose, although the BBC reported, citing state media, that the US agricultural sector could be impacted, including a potential total ban on poultry. There are also reports the cooperation between the two countries on tackling the fentanyl trade could end. And a possible ban on US films being shown in cinemas in China has also been suggested, according to the broadcaster.

Per NDTV:

Donald Trump has followed through on his threat of “additional 50 per cent tariffs” on China starting Wednesday. The White House announced that this will make America’s new tariff on China an unprecedented 104 per cent.

President Trump had given China 24 hours to roll back or “withdraw” the retaliatory 34 per cent tariff it imposed on US goods, failing which Chinese goods would be punished with 104 per cent tariffs. Beijing dared Washington to do so earlier today. Within hours Donald Trump approved it.

The US used to tariff China at 10 per cent till last month, which President Trump said, “robbed and ripped off” the US economy of billions and billions of dollars as “tariff abuser” Beijing levied a far higher tariff on US goods. Last week the US President announced his “reciprocal tariff” move – wherein the US would charge other countries roughly half the tariff that nation charged the US. For China this was an additional 34 per cent, taking Beijing’s tally to 44 per cent.

This is a Guest Post from our friends over at WLTReport.

View the original article here.


Source link