President Donald Trump has announced a tariff hike from 104 per cent to 125 per cent on imports from China to the U.S.
Mr Trump disclosed this in a statement on X after China placed additional retaliatory tariffs on the U.S.
He blamed the world’s second-largest economy for disrespecting the world’s markets and ripping off countries, including the U.S., for the tariff hike.
Mr Trump said, “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.
He, therefore, hoped that China would, at some point, realise that the days of ripping off the U.S.A., and other countries, is no longer sustainable or acceptable.
Mr Trump, however, directed a three-month suspension of reciprocal tariff on other countries, reverting to the universal 10 percent tariff rate, within the period, as compensation for not retaliating against the U.S.
I have authorized a 90-day pause and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately, he said.
He said the tariff reversal followed calls by over 75 countries on U.S. representatives, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to subjects relative to trade, trade barriers, tariffs, currency manipulation, and non-monetary Tariffs.
