IRFAN ABID BUKHARI
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#🇺🇸 NEW YORK: President Trump posts on Truth Social media that he is raising Tariffs on China to 125%.
🇺🇸 NEW YORK: President Trump posts on Truth Social media that he is raising Tariffs on China to 125%.
Yes, President Trump has increased tariffs on Chinese imports, but the rate is now 145 percent rather than 125 percent. The US trade deficit and China's retaliatory tariffs are the goals of this move. Here's a breakdown 1:2
- *Tariff Increase*:
The effective US tariff rate on Chinese imports has risen from 84% to 125%, with an additional 20% tariff for fentanyl-related imports, totaling 145%.
- *Reasoning*:
The escalation is attributed by the administration to China's "systemic excess manufacturing capacity" and "suppression of US domestic manufacturing."
- *Impact*:
This move may affect US-China trade relations and potentially influence the global economy.
In a related development, President Trump has also eased tariffs for allied trade partners, applying a flat 10% duty for 90 days to foster cooperation on economic and national security fronts. This adjustment applies to over 75 countries willing to work with the US on improving trade reciprocity ¹.
Other important changes include: -
"Increased Duties":
The tariffs on low-value imports connected to the supply chain for synthetic opioids have gone up from 90% to 120%.
- *Postal Shipment Tariffs*:
Duties on postal shipments are increasing from $75 to $100 starting May 2, and then to $200 beginning June 1.
🇺🇸 NEW YORK: President Trump posts on Truth Social media that he is raising Tariffs on China to 125%.
Yes, President Trump has increased tariffs on Chinese imports, but the rate is now 145 percent rather than 125 percent. The US trade deficit and China's retaliatory tariffs are the goals of this move. Here's a breakdown 1:2
- *Tariff Increase*:
The effective US tariff rate on Chinese imports has risen from 84% to 125%, with an additional 20% tariff for fentanyl-related imports, totaling 145%.
- *Reasoning*:
The escalation is attributed by the administration to China's "systemic excess manufacturing capacity" and "suppression of US domestic manufacturing."
- *Impact*:
This move may affect US-China trade relations and potentially influence the global economy.
In a related development, President Trump has also eased tariffs for allied trade partners, applying a flat 10% duty for 90 days to foster cooperation on economic and national security fronts. This adjustment applies to over 75 countries willing to work with the US on improving trade reciprocity ¹.
Other important changes include: -
"Increased Duties":
The tariffs on low-value imports connected to the supply chain for synthetic opioids have gone up from 90% to 120%.
- *Postal Shipment Tariffs*:
Duties on postal shipments are increasing from $75 to $100 starting May 2, and then to $200 beginning June 1.
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