Trump Administration Increases Tariffs on Chinese Imports to 104%
New tariffs come as retaliation escalates between the United States and China.
In a significant escalation of trade tensions, the Trump Administration has announced that tariffs on Chinese imports to the United States will rise to 104% starting Wednesday, April 9, 2025. This decision was communicated by the White House, confirming a previous threat made by President Donald Trump.
Last week, President Trump indicated that new customs duties would increase to 54% on various Chinese goods, with an additional 50% tariff imposed if Beijing retaliated.
In response, China has declared a 34% tariff on U.S. products, effective Thursday, April 10, 2025. The ongoing trade standoff is characterized by retaliatory measures from both nations, affecting a wide range of products and industries.
This latest development continues a pattern of escalating tariffs, which have raised concerns about their impact on global trade and economic relations.
Both countries have significant stakes in these tariffs, as they influence their respective economies and markets.
The situation remains fluid, with implications for consumers and businesses in both the United States and China, as well as potential ripple effects in global markets.
Additionally, the foreign exchange market on April 8, 2025, has reported a dollar exchange rate of ¢511.19 for sales and ¢506.81 for purchases, reflecting ongoing economic pressures amid these rising tariffs.
Last week, President Trump indicated that new customs duties would increase to 54% on various Chinese goods, with an additional 50% tariff imposed if Beijing retaliated.
In response, China has declared a 34% tariff on U.S. products, effective Thursday, April 10, 2025. The ongoing trade standoff is characterized by retaliatory measures from both nations, affecting a wide range of products and industries.
This latest development continues a pattern of escalating tariffs, which have raised concerns about their impact on global trade and economic relations.
Both countries have significant stakes in these tariffs, as they influence their respective economies and markets.
The situation remains fluid, with implications for consumers and businesses in both the United States and China, as well as potential ripple effects in global markets.
Additionally, the foreign exchange market on April 8, 2025, has reported a dollar exchange rate of ¢511.19 for sales and ¢506.81 for purchases, reflecting ongoing economic pressures amid these rising tariffs.
