It’s 145% now: Trump raises tariffs on China

WASHINGTON: US President Donald Trump’s steep tariff hike targeting Chinese goods, which took effect Thursday, imposes an additional rate on many products to 145 percent, the White House confirmed.

Trump’s 90-day halt in fresh duties for dozens of countries has come into place, a White House order showed.

But he has also doubled down by raising new tariffs on Chinese imports to 125 percent, a figure that stacks atop a 20 percent additional duty from earlier in the year over China’s alleged role in the fentanyl supply chain.

This takes the total tariffs Trump has imposed on Chinese products this year to 145 percent, stacking on existing levies from past administrations.

But the latest 125 percent figure on China, aimed at addressing practices Washington has deemed unfair, contains notable exclusions.

It excludes products like steel and aluminium imports, as well as autos, which Trump slapped separate 25 percent tariffs on under separate regimes.

The number also does not apply to goods such as copper, pharmaceuticals, semiconductors, lumber, and energy products — some of which Trump has signaled plans to target separately too.

U.S. President Donald Trump’s reciprocal tariffs on countries and retaliatory measures in tit-for-tat by China and the European Union (EU) have brought the global economy in a state of uncertainty and the ‘trade war’ shows little sign of slowing down. Earlier in the day, Beijing warned that American tariffs go “against the whole world.”

Speaking to reporters, Chinese foreign ministry spokesman Lin Jian said, as quoted by AFP news agency, “The US tariffs seriously damage the rules-based multilateral trading system, and seriously impact the stability of the global economic order.” “If the US side truly wants to resolve issues through dialogue and negotiation, it should show an attitude of equality, respect, and mutual benefit. If the US side disregards the interests of the two countries and the international community and insists on waging a tariff war and a trade war, China’s response will continue to the end,” Lin said.

“This is a blatant act that goes against the will of the world and goes against the whole world,” he added. On Thursday, the Chinese foreign ministry said that the country is not interested in a fight but will not fear if the U.S. continues its tariff threats. He further noted that China would not sit back and let the legitimate rights and interests of the Chinese people be deprived.

Earlier in the day, China’s commerce ministry said the country is open to having a dialogue with the U.S.; however, this must be based on mutual respect and equality.

Meanwhile, China is reaching out to other nations as the US layers on more tariffs in what appears to be an attempt to form a united front to compel Washington to retreat.

Days into the effort, it’s meeting only partial success with many countries unwilling to ally with the main target of President Trump’s trade war.

Facing the cratering of global markets, Trump on Wednesday backed off his tariffs on most nations for 90 days, saying countries were lining up to negotiate more favourable conditions.

China has thus far focused on Europe, with a phone call between Premier Li Qiang and European Commission President Ursula von der Leyen “sending a positive message to the outside world.”

“China is willing to work with the EU to jointly implement the important consensus reached by the leaders of China and the EU, strengthen communication and exchanges, and deepen China-EU trade, investment and industrial cooperation,” the official Xinhua News Agency reported.

Wang said the tariffs “seriously infringe upon the legitimate interests of all countries, seriously violate WTO rules, seriously damage the rules-based multilateral trading system, and seriously impact the stability of the global economic order,” Xinhua said.

“China is willing to resolve differences through consultation and negotiation, but if the US insists on its own way, China will fight to the end,” Wang said.

Beijing in retaliation has reduced the import of US films and called on Washington to return to fair dialogue without threats.

In Brussels, The European Union’s executive commission said it will put its retaliation measures against new US tariffs on hold for 90 days to match President Donald Trump’s pause on his sweeping new tariffs and leave room for a negotiated solution.

According to AP news agency, European Commission President Ursula von der Leyen said that the commission, which handles trade for the 27 member countries, “took note of the announcement by President Trump.”

New tariffs on 20.9 billion euros ($23 billion) of US goods will be put on hold for 90 days because “we want to give negotiations a chance,” she said in a statement.

But she warned: “If negotiations are not satisfactory, our countermeasures will kick in.” Trump imposed a 20 per cent levy on goods from the EU as part of his onslaught of tariffs against global trading partners but has said he will pause them for 90 days to give countries a chance to negotiate solutions to US trade

concerns. With agency inputs