On April 7, President Trump threatened in a social media post that the U.S. would impose an additional 50% tariff on Chinese-produced goods. This 50% tariff is in addition to the already announced 20% tariff due to fentanyl trafficking and a separate 34% tariff announced on April 2. If implemented, the president’s new taxes on Chinese imports would reach over 100%. While other countries are working toward striking a deal on tariffs with the Trump administration, Beijing is taking a harder line. In response to the April 2 tariff announcement, China announced its own baseline 34% tariff on U.S. imports. Trump gave Beijing an April 8 deadline to remove its retaliatory tariff. Stay tuned.
Our Blog 