The White House on Tuesday (April 8) confirmed that 104% of the Chinese goods will officially enter into force, which means dramatic escalation in business tension between the two largest economies in the world. Other duties will be collected from April 9, as the press secretary Karine Jean-Pierre announced.
Why the US has deposited other tariffs
The hike of tariffs is part of President Donald Trump’s wider strategy to face what China calls “long -term abuse of trading”. This step monitors the escalation of complaints about the persistent trade deficits and the last trading in Fentanyl allegedly associated with Chinese entities.
“Other countries are tearing from the United States,” Trump said repeatedly, defending his aggressive use of tariffs as a negotiating tool.
From fentanyl to “day of liberation”
Apr. April President Trump deposited 34% mutual tariff on Chinese imports and declared the date of “day of liberation” to indicate what he was burying as a turning point in American economic independence from China. Moreover, it was an earlier 20% of the tariff introduced as a punishment for the alleged role of China in the supply of fentanyl, a synthetic opioid that contributed to the American drug crisis.
After China on April 4 hit 34% of retaliation, President Trump warned 7th April that the inability to withdraw their withdrawal would cause another 50% American tariff, effective on April 9.
FRUPST wrote on Truth Social: “If China does not take its 34% increase … The United States deposits additional tariffs on China 50%, effective 9 April.”
That another 50% now came into force and total American tariffs on Chinese imports to 104%.
Beijing hits back, tightens the export of minerals
China announced 34% tariff on US goods in retaliation, effective on April 10, and began to tighten exports on elements of rare soils – including Samarium, dysprosium and gadolinium – critical to electronics and defense industry.
“China will never accept it,” said a spokesman for the Chinese trade ministry and called the US action “error over error”.
“If the US insists to embark on their own way, China will fight until the end.”
Markets jitters, Trump steady
The stock markets reacted carefully, in the middle of the concerns of the renewed trade war. But Trump remains solid.
“The tariffs give us a lot of power to negotiate,” he told reporters on board Air Force One. “Sometimes you have to take a medicine to fix something.”
Trump’s business philosophy
The tariffs were central to Trump’s economic doctrine. He claimed to be the key to reviving American production, discouragement of unfair competition and reducing US trade deficit with more billions of dollars with China.
(Tagstotranslate) 104% of tariffs on Chinese goods
