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In a retaliatory move, United States President Donald Trump has raised China’s tariff rates from 104 percent to 125 percent.
Trump announced his decision on Wednesday while pausing tariffs for dozens of other countries. The White House said the suspension is applicable to all countries affected by the tariffs.
Trump shocked the world earlier this month when he announced a “baseline” tariff of 10 percent on all countries, with higher rates as much as 50 percent for the “worst offenders”.
His taxes on Chinese imports began in March at a 10 percent rate, climbing through 20 percent, 54 percent, 104 percent, and now 125 percent – all as reciprocal moves to challenge China’s retaliation.
Beijing had responded by announcing a reciprocal 84 percent tariff rate on US goods, effective from April 10, in addition to travel warnings to its citizens about visiting America.
Trump said China’s actions were a “lack of respect”.
“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,” the US president said in a statement.
According to Trump, over 75 countries had called the US government to negotiate a solution to the tariff impositions.
He said the pauses and China’s hike would take effect immediately.
