Source: Africa Publicity
US President Donald Trump announced a significant increase in tariffs on Chinese imports to the USA, effective immediately. The new tariff rate stands at 125%, a substantial hike aimed at pressuring China to respect global markets.
“Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the tariff charged to China by the United States of America to 125%, effective immediately,” Trump declared. He added that China would eventually realize that exploiting the US and other countries is “no longer sustainable or acceptable.”
Tariff Details
– China Tariffs: 125% on Chinese imports to the US, effective immediately
– *90-Day Pause:* A 90-day pause with lowered reciprocal tariffs of 10% on countries that have negotiated with the US on trade issues
International Reaction
China had already announced retaliatory tariffs of 84% on US goods after Trump’s previous imposition of 104% tariffs on Chinese imports. Trump’s latest move has sparked concerns about potential trade wars and their impact on the global economy.
Impact on Trade
The tariffs are part of Trump’s broader trade policy, aimed at protecting American interests and combating issues like fentanyl trafficking. However, economists warn that such measures could lead to higher consumer prices, decreased trade, and increased economic inequality.
Key Quotes
– “At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other countries, is no longer sustainable or acceptable.” – Donald Trump
– “Conversely, and based on the fact that more than 75 countries have called representatives of the United States… to negotiate a solution… I have authorized a 90-day pause… of 10%, also effective immediately.” – Donald Trump.
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