‘China now faces up to a 245% tariff on imports to US due to its retaliatory action’: Washington
Amid an ongoing trade war, Washington on Tuesday announced that China now faces tariffs of up to 245% on imports to the United States “as a result of its retaliatory actions”.
The move came days after China on April 11 said that it would raise tariffs on all US goods from 84% to 125% starting April 12. Beijing was responding to the White House hiking levies on Chinese imports to 145% a day earlier.
Washington’s announcement on Tuesday marks a sharp escalation in trade tensions between the world’s two largest economies and threatens to further disrupt global supply chains.
On April 2, the US announced “reciprocal” tariffs on dozens of countries, including a 26% “discounted” levy on India. US President Donald Trump had repeatedly said he intended to impose a reciprocal tax on India, among others, citing high tariffs the countries impose on foreign goods.
On April 9, the so-called reciprocal tariffs imposed by the US on several countries took effect. Hours after, however, Trump reduced the tariff rates on imports from most countries to 10% for 90 days to provide time for trade negotiations. But Washington increased tariffs on China to 125%.
The US president had cited the “lack of respect” Beijing had shown to the global markets for further increasing tariffs on imports from China.
In a fact sheet released on Tuesday, the White...
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