The United States (US) announced that China now faces new tariffs of up to 245 percent as a result of its retaliatory measures, the White House said in a statement late Tuesday.
The national security investigation into imports of vital resources was launched by the latest White House administrative order, which was released late Tuesday. The order also included explanations for the reciprocal tariffs imposed on April 2.
“China now faces a 245 percent tariff on imports into the United States as a result of its retaliatory actions,” the White House said.
The tariff war launched by US President Donald Trump has rocked global markets.
He has raised tariffs on Chinese goods to 145 percent, claiming that Beijing is “abusive” in its trade practices with the US.
“More than 75 countries have already contacted us to discuss new trade agreements. As a result, individualized higher tariffs are currently paused amid these discussions, except for China, which has retaliated,” it added.
They recalled that several months ago, China banned the export of gallium, germanium, antimony and other key high-tech materials with potential military applications to the United States.
“Just this week, China suspended exports of six heavy rare earth metals, as well as earth magnets, to reduce inventory of components that are central to automakers, aircraft manufacturers, semiconductor manufacturers and military contractors around the world,” the White House said.
The statement did not specify the exact tariff rate that China faces, but implied that the tariff rate could rise as high as 245 percent.
China last Friday increased tariffs on imports of American goods to 125 percent in response to Trump’s decision to effectively raise U.S. tariffs on Chinese goods to 145 percent, while placing a 90-day pause on planned levies on goods from other countries.
