Trump suspends new tariffs for 90 days but raises tariffs for China to 125%
The United States introduces a 90-day pause with a 10% duty for countries that have not responded to the tariff increase. At the same time, the tariff for China has been increased to 125%.
This was announced by US President Donald Trump on the social network Truth Social, Censor.NET reports citing LIGA.
Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately," Trump wrote.
He added that more than 75 countries have contacted U.S. officials, including the Departments of Commerce, Treasury, and the U.S. Trade Representative Office, to discuss resolving issues related to trade, trade barriers, tariffs, currency manipulation, and non-monetary tariffs.
"These countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day pause, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately." the US President said.
Trump imposes tariffs
As a reminder, Trump signed a decree imposing a minimum 10 percent tariff on almost all goods entering the United States. For some countries, the tariffs are higher. In particular, China - 34%, the European Union - 20%.
Later it became known that Trump had declared a state of emergency in the country's economy.
The US tariffs also affected Ukraine - the US will impose 10 percent duties on its goods.
China has announced that it will impose 34 percent duties on all American goods in response.
At the same time, the Ministry of Economy of Ukraine believes that there are chances to negotiate other terms of trade with the United States. In addition, Economy Minister Yuliia Svyrydenko assured that the US duty would not affect the exchange rate or food prices in Ukraine.
