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$BTC China: The US and China ramped up huge tariffs against one another in recent months, but have now reached an agreement for significant reductions. Trump unveiled a 10% tariff on goods from China on 4 February, which doubled to 20% a month later. On 2 April, Trump announced a universal 10% baseline tariff on all imports to the US, on what he called "Liberation Day". But some nations, including China, were subjected to higher rates. China retaliated with tariffs of its own, and the ratcheting up of taxes ultimately led to the US imposing a 145% tariff on Chinese imports, on 9 April. Beijing had a 125% levy on some US goods. However, the US and China have now both suspended all but 10% of their Liberation Day tariffs for 90 days, starting on 14 May. They have cancelled other retaliatory levies. This will cut US tariffs on Chinese imports to 30%, while Chinese tariffs on US imports will be reduced to 10%. The US measures still include 20% aimed at putting pressure on Beijing to do more to curb the illegal trade in fentanyl, a powerful opioid drug. Trump also imposed significant tariffs on China during his first presidential term. These were expanded by his successor Joe Biden, which cut the amount America imports from Beijing. But the US still buys much more from China ($440bn) than it sells to it ($145bn).

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#TrumpTariffs Trump says tariffs will encourage US consumers to buy more American-made goods, increase the amount of tax raised and lead to huge levels of investment. He wants to reduce the gap between the value of goods the US buys from other countries and those it sells to them. He argues that America has been taken advantage of by "cheaters" and "pillaged" by foreigners. The US president has made other demands alongside tariffs. When he announced the first tariffs of his current term against China, Mexico and Canada, he said he wanted them to do more to stop migrants and illegal drugs reaching the US. China: The US and China ramped up huge tariffs against one another in recent months, but have now reached an agreement for significant reductions. Trump unveiled a 10% tariff on goods from China on 4 February, which doubled to 20% a month later. On 2 April, Trump announced a universal 10% baseline tariff on all imports to the US, on what he called "Liberation Day". But some nations, including China, were subjected to higher rates. China retaliated with tariffs of its own, and the ratcheting up of taxes ultimately led to the US imposing a 145% tariff on Chinese imports, on 9 April. Beijing had a 125% levy on some US goods. However, the US and China have now both suspended all but 10% of their Liberation Day tariffs for 90 days, starting on 14 May. They have cancelled other retaliatory levies. This will cut US tariffs on Chinese imports to 30%, while Chinese tariffs on US imports will be reduced to 10%. The US measures still include 20% aimed at putting pressure on Beijing to do more to curb the illegal trade in fentanyl, a powerful opioid drug. Trump also imposed significant tariffs on China during his first presidential term. These were expanded by his successor Joe Biden, which cut the amount America imports from Beijing. But the US still buys much more from China ($440bn) than it sells to it ($145bn).

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#TrumpTariffs menyebalkan

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