According to a White House point strip that was made available later on Tuesday night, China is currently subject to tariffs of up to 245 % on its imports to the United States. Beijing has taken retaliatory measures as well, including its most recent order to stop new Boeing aircraft payments from Chinese airlines.
The most recent escalation comes after the US announced earlier this month that it would impose 14,55 % tariffs on Chinese products. China increased import tariffs on important high-tech materials to 12 % and tightened export controls on them.
Following China’s decision to suspend exports of crucial high-tech materials, including large rare earth metals and magnets, which are essential to industries like defence, aerospace, automotive, and aerospace, the move is a part of a wider national protection review of essential imports.
China is currently subject to a 245 % tariff on imports to the United States as a result of its hostile actions, according to a declaration from the White House, noting that the new methods were justified on national security grounds.
The declaration made reference to a number of steps taken by China, including the most recent ban on exports of chromium, germanium, arsenic, and other tactical materials with possible military applications. China temporarily suspended imports of six large rare earth metals and rare earth magnets, according to the administration, to stifle supplies.
The White House emphasized that the” America First” business initiative, which was introduced on Day One of his administration, was intended to restore economic stability and freedom. More than 75 nations have already reached out to talk about innovative business agreements. In response, the individual higher tariffs are now being halted despite these discussions, with the exception of China, which retaliated, it continued.
Officials indicated that the duties may increase as high as 245 %, quickly escalating trade tensions between the nation’s two largest economy, despite the actual tariff rate being unknown.
Trump’s earlier news to raise tariffs on Chinese goods to 145 %, as well as temporarily halting new duties on imports from other countries, was met by China’s rise to 125 % last Friday.
As the national safety investigation drags on, the White House has not yet made it clear whether there will be any additional price increases or trade controls.
