US President Donald Trump's sharp increase in tariffs on Chinese products brings Washington's additional rate on many items to 145 per cent, and it took effect on Thursday, the White House confirmed. On Wednesday, Trump announced a 90-day pause in his sweeping tariffs on most countries, except China, with a 125 per cent tariff on Chinese products. The 125 per cent tariff soars to 145 per cent, given the 20 per cent duty introduced earlier this year, citing Beijing's alleged involvement in the fentanyl supply chain.
While Trump announced 125 per cent tariffs on Chinese goods on Wednesday, the White House stressed it came as an extra measure along with the earlier 20 per cent.
Trump, in response to China’s retaliation for his initial 34 per cent tariffs against Chinese goods, increased the levies to an unprecedented 145 per cent. While Trump paused tariffs on other countries, including the EU, for 90 days, he left Beijing isolated.
On Friday, China increased its tariffs against the US goods from 84 per cent to 125 per cent in a tit for tat move, leading to a trade war between the world's top two economies.
In the wake of Trump's tariffs, Beijing has started to reach out to several nations as Xi is slated to begin his first visit to Vietnam, Malaysia and Cambodia from April 14 to 18. The visit is expected to step up trade and strategic ties, besides supply chain issues in the face of Trump’s tariffs.
