Trump said that a tariff agreement has been reached, imposing a 55% tariff increase from China, while China will increase tariffs on the US by 10%, and China will continue to export magnets and rare earth materials to the US as before.
I feel that the current outcome of these negotiations is not like that; why does the US impose a 55% tariff increase on China, while China only increases tariffs on the US by 10%? This issue is hard for me to understand; how is this 55% tariff calculated? Wasn't it previously said that these tariffs would be reduced to maintain only a 10% base tariff, and that the 24% tariff would be suspended for 90 days? Now, with this arrangement, it feels like the 55% tax has been added back!
Isn't there a mistake? Isn't this unfair to China? This statement is made by the President of the United States, and I believe its credibility is low; he may have said this just to save face domestically, or perhaps he intentionally said so?
