Trump Threatens China with 104% Tariffs
Political
U.S. President Donald Trump threatened China with new, heavy trade tariffs. If Beijing does not cancel its 34% tariffs by April 8, 50% tariffs will be imposed on products imported from China starting April 9, Trump said. In this case, the total tariffs on Chinese imports will amount to 104%.
Trump made this announcement on April 7, Monday, through his Truth Social network and also emphasized that no further negotiations on tariffs with China would take place. However, negotiations with other countries regarding customs policy should begin "immediately," Trump stated. He did not specify which countries were involved.
A few days ago, the U.S. president announced new tariffs on imports from China: a 34% tariff is set to take effect on April 9. In response, Beijing announced that it would introduce similar tariffs on U.S. goods.
Currently, the U.S. already imposes a 20% tariff on Chinese products. Therefore, if Trump follows through with his threat and implements a 50% tariff, the total tariff will amount to 104%.
Trump’s decision to impose new tariffs on imports from China and other countries has been met with sharp criticism from politicians and economists worldwide, and stock markets have reacted with significant declines in indices.
Additionally, oil prices have sharply dropped. A rise in consumer prices globally and a slowdown in economic growth are also expected. According to the dpa agency, Trump’s decision to introduce new trade tariffs is the most aggressive and potentially far-reaching step in his trade policy.
A few days ago, the U.S. president announced new tariffs on imports from China: a 34% tariff is set to take effect on April 9. In response, Beijing announced that it would introduce similar tariffs on U.S. goods.
Currently, the U.S. already imposes a 20% tariff on Chinese products. Therefore, if Trump follows through with his threat and implements a 50% tariff, the total tariff will amount to 104%.
Trump’s decision to impose new tariffs on imports from China and other countries has been met with sharp criticism from politicians and economists worldwide, and stock markets have reacted with significant declines in indices.
Additionally, oil prices have sharply dropped. A rise in consumer prices globally and a slowdown in economic growth are also expected. According to the dpa agency, Trump’s decision to introduce new trade tariffs is the most aggressive and potentially far-reaching step in his trade policy.
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