Amid the ongoing tariff dispute between the U.S. and China, a White House fact sheet has revealed that President Donald Trump‘s administration has raised tariffs on Chinese imports by up to 245%.
What Happened: According to a fact sheet released by the White House late Tuesday, “China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions.”
Tariff Timeline:
- The tariff war started with President Trump imposing a 20% tariff on China after he took office, a 34% levy on April 2nd, and an additional 50% duty in response to China’s retaliatory threats, dramatically heightening the initial tariffs to 104%.
- China responded to this by increasing its tariffs by 84%. Trump later hiked the 104% to 125% “based on the lack of respect” from China, according to him.
- Eventually, last week on Friday, China too raised its levies on U.S. imports to 125%, …