President Trump trade war: China raising tariffs on US goods from 84% to 125%
(AP) China announced countermeasures by raising tariffs on U.S. goods from 84% to 125% starting Saturday.
The U.S. and China have escalated a new trade war by raising tariffs even as U.S. President Donald Trump hit a pause on tariffs for other countries. China notably had said it would fight the American tariffs with its own countermeasures, calling Trump's actions “economic bullying," which led Trump to retaliate by continuously hiking up tariffs this week.
Trump’s universal tariffs on China total 145%. When Trump announced Wednesday that China faced 125% tariffs, he did not include a 20% tariff on China tied to its role in fentanyl production.
Trump's actions led business executives to warn of a potential recession, and some of the top U.S. trading partners to retaliate with their own import taxes, before the pause. But Trump and China continued raising the tariffs in a tit for tat.
Full coverage: https://www.wkyc.com/article/n....ews/nation-world/chi
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