US-China trade tensions tariffs: The Donald Trump administration has announced that China now faces 245 per cent tariffs on all United States imports after Beijing retaliated in the ongoing trade war that has bruised global markets and investor sentiments. In a fact sheet released late Tuesday evening, the White House said it has decided to impose 245 per cent tariffs on China, heightening the tensions between the two countries.
The White House statement said that on Liberation Day, US President Donald Trump imposed 10 per cent tariffs on all countries that impose a high tax on the United States. The tariffs were then paused as over 75 countries reached out to the US to negotiate new trade deals.
“The individualized higher tariffs are currently paused amid these discussions, except for China, which retaliated. China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions,” the White House said in its statement.
The tariffs imposed on China, as well as other countries on Liberation Day, were a part of Donald Trump’s ongoing “America First” trade policy.
US-China trade wars escalate
Earlier, the United States slapped a 145 percent tariff on China, after which the latter retaliated with 125 percent tariffs on US, leading to heightened tensions between the two nations and volatility in the global stock markets. Beijing further banned the export of certain goods used by aerospace manufacturers and military contractors.
After the recent imposition of 245 percent US tariffs on the country, China’s Foreign Ministry spokesperson Lin Jian said that the government continues to maintain its solemn position on tariffs, and the trade war was initiated by the US. While responding to the question about the fresh tariffs, Lin said that “you can ask the US side for the specific tax rate figures,” as quoted by local media.
Meanwhile, White House press secretary Karoline Leavitt said on Tuesday that President Donald Trump is open to making a trade deal with China but Beijing should make the first move.
Story continues below this ad
“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 told a press briefing, saying Trump had given her that statement directly in an Oval Office meeting to use. “China wants what we have … the American consumer, or to put another way, they need our money,” Leavitt said.
© IE Online Media Services Pvt Ltd