WASHINGTON (Sputnik) – The USA will begin collecting a 104% tariff on Chinese goods starting Wednesday after Beijing missed President Donald Trump’s deadline to roll back retaliation measures, White House press secretary Karoline Leavitt confirmed on Fox News.
The Chinese State Council announced that China would impose additional tariffs of 34% on all goods imported from the United States.
In response, Trump stated on Monday that he would increase tariffs on Chinese imports by 50%, effective April 9, unless Beijing rescinds its retaliatory counter tariffs.
On April 2, signed an executive order imposing reciprocal tariffs on US trade partners, which includes a 34% tariff on China, a 20% tariff on the European Union, and 24% on Japanese imports.
Trump also signed an executive order imposing 25% tariffs on foreign-made cars, light trucks, and auto parts, saying that such a measure was necessary to protect national security.
China’s response to Trump’s tariffs includes new restrictions on the export of critical elements. The move could prove extremely painful for the USA.
Beijing’s sanctions on Lockheed Martin and Raytheon, and now restrictions on rare earths and dual-use tech, disrupt their supply chains, heavily dependent on Chinese resources, says Hong-Kong-based financial analyst Angelo Giuliano.
will cause defense production costs to soar, and mean delays in the production of advanced, rare-earth-dependent equipment like aircraft and missiles. The USA is simply unprepared to ditch China as a trade partner in this sector.
Sputnik / ABC Flash Point News 2025.
Trump is trying to balance a sinking Black Hole debt economy and reestablish manufacturing. Current trade deficit with Chine is $295 Billion.
This tax scam is being paid by the ordinary citizens, just like always !
Nothing goes to the US coffers since the importers pay the duty. Trump lies 100%. American consumers pay more for the same products that’s all.