Washington, D.C.: In the midst of the escalating tariff conflict between the United States and China, which has been unsettling global markets, President Donald Trump announced on Wednesday (local time) an immediate increase in tariffs on Chinese imports to 125%.
This decision followed China's retaliatory action, which raised tariffs on American goods from 34% to 84%, effective April 10.
Additionally, Trump revealed that he has authorized a 90-day "pause" on tariffs for 75 countries that have reached out to U.S. representatives for trade discussions, along with a significantly reduced reciprocal tariff.
Among the nations engaged in trade talks with the United States is India.
"Due to the disrespect China has shown towards global markets, I am raising the tariff imposed on China by the United States to 125%, effective immediately. I hope that soon China will understand that exploiting the U.S. and other nations is no longer viable or acceptable," Trump stated on the social media platform Truth Social.
"On the other hand, considering that over 75 countries have contacted U.S. representatives, including the Departments of Commerce, Treasury, and USTR, to seek solutions regarding trade issues, trade barriers, tariffs, currency manipulation, and non-monetary tariffs, and that these countries have not retaliated against the United States at my strong recommendation, I have authorized a 90-day PAUSE and a significantly reduced reciprocal tariff of 10%, also effective immediately. Thank you for your attention to this matter!" he added.
Earlier today, China declared a significant increase in its tariffs on American products, raising them from 34 percent to 84 percent, effective April 10, according to Al Jazeera.
This announcement follows the United States' decision to impose tariffs on Chinese goods, reaching an unprecedented 104 percent, in light of President Trump's warning of "additional 50 percent tariffs" on China starting Wednesday.
Trump's announcement of the extra 50 percent tariff came after China had already implemented a 34 percent tariff on U.S. goods as part of a reciprocal action.
