Trump raises China tariffs to 125%
Photo: US President Donald Trump (Getty Images)
The United States has raised tariffs on Chinese goods to 125%. The decision has already come into effect, stated US President Donald Trump on Truth Social.
Trump stated that, due to what he described as China's lack of respect for global markets, he had decided to increase the tariff on Chinese goods.
"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 said in his post.
He noted that he expects China will eventually realize that the practices which allowed it to exploit the United States are no longer acceptable.
"At some point, hopefully in the near future, China will realize that the days of ripping off the USA, and other countries, is no longer sustainable or acceptable," he stated.
US-China tariff war
The trade war between Washington and Beijing has intensified after the administration of US President Donald Trump imposed new tariffs on Chinese goods.
As reported by RBC-Ukraine, last week the United States introduced tariffs on imports from most countries worldwide. The tariffs range from 10% to 50% and have already negatively impacted global stock markets, which reacted with sharp drops in indexes.
Yesterday, April 8, the White House announced a 104% tariff on Chinese goods.
In response, China today, April 9, imposed symmetrical tariffs of 84% on American products. More details on China’s response to the US tariffs can be found in the material by RBC-Ukraine.
