In a significant escalation of the ongoing trade conflict between the United States and China, the White House has announced that China will now face a staggering 245% tariff on all imports from the United States. This move comes as a direct response to Beijing’s retaliatory actions, further straining relations between the two economic powerhouses and sending shockwaves through global markets.
The decision to impose such a high tariff was revealed in a fact sheet released by the White House on a Tuesday evening. According to the statement, President Donald Trump initially imposed a 10% tariff on all countries that imposed high taxes on the United States on Liberation Day. However, these tariffs were temporarily suspended as over 75 countries engaged in negotiations with the US to forge new trade agreements. China, however, chose to retaliate, leading to the imposition of the 245% tariff specifically on Chinese imports.
This move is part of President Trump’s broader “America First” trade policy, which aims to protect US economic interests and address perceived trade imbalances. The White House emphasized that the individualized higher tariffs were paused for countries willing to negotiate, but China’s retaliatory measures left it as an exception.
The trade war between the US and China has already seen several rounds of tit-for-tat tariffs. Previously, the US imposed a 145% tariff on Chinese goods, prompting China to retaliate with a 125% tariff on US imports. This led to heightened tensions and significant volatility in global stock markets. China also banned the export of certain goods crucial for aerospace manufacturers and military contractors, further escalating the conflict.
In response to the latest tariff imposition, China’s Foreign Ministry spokesperson, Lin Jian, reiterated the government’s stance, stating that the trade war was initiated by the US. Lin emphasized that China maintains its solemn position on tariffs and questioned the specific tariff figures, suggesting that the US should provide clarity.
Meanwhile, White House Press Secretary Karoline Leavitt indicated that President Trump remains open to negotiating a trade deal with China, but emphasized that Beijing must make the first move. “The ball is in China’s court: China needs to make a deal with us, we don’t have to make a deal with them,” Leavitt said during a press briefing, conveying Trump’s message directly from an Oval Office meeting. She added that China’s economy relies heavily on access to American consumers, implying that the US holds a strong bargaining position.
As the trade war continues to escalate, the global economic landscape remains uncertain. The imposition of such high tariffs not only affects the economies of the US and China but also has far-reaching implications for international trade and investor sentiment worldwide. The world watches closely as both nations navigate this complex and contentious trade dispute.