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The US-China Tariff Escalation
The United States has intensified its tariff conflict with China, as confirmed by the White House, with total US tariffs on Chinese imports reaching 145 per cent. This move follows a new executive order by the President raising tariffs to 125 per cent from a previous 84 per cent. An additional 20 per cent tariff specifically targets fentanyl-related imports, further increasing the cumulative tariff rate.
US Tariff Strategy
- US reversed tariffs on most nations for 90 days, excluding China, intensifying the confrontation between the two largest global economies.
- Initial tariffs on Chinese goods were 34 per cent, met with equivalent retaliatory measures by Beijing.
- Additional US tariffs of 50 per cent in duties were imposed in response, bringing the total tariff burden to 104 per cent after earlier levies in February and March.
- In February, a 10 per cent tariff on Chinese goods was imposed, citing Beijing's alleged role in illegal immigration and fentanyl flow into the US, later doubled.
China's Response
- China imposed 84 per cent tariffs on US imports effective from 12.01 pm Thursday, as reported by Xinhua.
- Beijing remains open to dialogue only on mutual respect and equality, rejecting pressure, threats, and coercion.
- China's foreign ministry accused the US of "bullying" and warned that US's approach would fail.
Global Trade Implications
- The trade war casts a shadow over global trade, with analysts warning of potential American recession.
- China was the US's second-largest source of imports last year, shipping $439 billion compared to $144 billion in US exports to China.
- Rising tariffs threaten domestic industries with cost surges, layoffs, and reduced competitiveness.
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