The global trade war has escalated as China announced a reciprocal tariff on American-made products. On April 11, China increased the tariff on U.S. goods from 84% to 125%. The tariff will begin on April 12 and affect U.S.-produced products such as soybeans, drugs and aircraft. For goods from most countries, President Trump recently announced a 90-day pause on some of the highest tariffs but left a baseline 10% tariff in place. However, because China is taking a harder line than other countries in the trade war, he announced a 125% tariff on Chinese goods. This is in addition to a previously announced 20% tariff due to fentanyl trafficking, raising the overall tariff on China to 145%.
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