Topics: Donald Trump, China, Tariffs, Politics, News, US News, World News, Business
Donald Trump has issued a response to China's new extreme relation tariffs on America.
Earlier today (April 9), China announced that it introducing an additional 84 percent tariff on all goods imported into the country from the US following Trump's decision to impose 104 percent tariffs on the East Asian country.
But now Trump has responded to the hike and hit back by increasing the levy on Chinese goods once more as the back-and-forth between the two countries continues.
Taking to his social media platform, Truth Social, the POTUS penned: "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.
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"At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable."
He went on to say to say that he is issuing a 90-day pause on other countries' tariffs on the basis that they have not (and don't plan on) announcing relation tariffs like China has done.
Trump's post went on: "Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately."
As the tariff war goes on, business executives are warning of a potential recession caused by his policies, as some of the top US trading partners are retaliating with their own import taxes and the stock market is quivering after days of decline.
Ahead of Trump's most recent announcement, his tariffs kicked in shortly after midnight in the US, which included the initial 104 percent on products from China, 20 percent on the European Union, 24 percent on Japan and 25 percent on South Korea.
While China has brought in an 84 percent levy on US goods, POLITICO reported earlier today at the EU is 'considering slapping tariffs of up to 25 percent on a broad range of exports from the US worth around €22.1 billion'.
