Trump's Tough Stance on China: 104% Duties Loom Large
Trump Issues a Threat to China: Implement Tariffs at 104% or Else
Yeah, let's dive into the ongoing trade battle between the US and China, where Donald J. Trump is ratcheting up the heat. Seems like ol' Don is threatenin' to escalate the China duties by an additional 50% if the Chinese government doesn't nix their counter-duties of 34%. Trump's given 'em until Tuesday, or else his new hi Atlanta follows on Wednesday. ain't sharin' specifics about which countries his government'll be negotiatin' with regard to the tariffs, but he did state that there'll be nada happenin' on the negotiation front with China.
Gotcha, Trump's Truth Social platform was the medium via which he dropped this bomb. He's arguin' that China's 34% retaliatory duties came despite his havin' warned them about further duties if they opted for countermeasures. And for those watchin' the markets in China, they're liable to sense a little turbulence, though Beijing's gone ahead and imposed counter-duties of 34% on US imports.
If the additional 50% duties Trump's threatenin' comes to fruition, that'd tack 'em onto the existing 34%, and pack an added 20% surcharge, courtesy of Trump since his inauguration. That equals a whoppin' 104% in duties on China!
Now, that 50% increment's supposed to kick in on Wednesday, alongside further measures aimed at countries with significant trade deficits. China and the EU, you name it, they're on the list. Trump's government's established their own percentage for each country, layin' the groundwork for the new levies. A flat 10% tariff on goodies from almost everywhere else came into effect on Saturday.
As for Trump's unfazed demeanor re: the stock market drop, he claims oil and food prices are fallin', and there's nary an inflation issue. However, experts link the declinin' oil prices to growin' recession fears and wanging demand, while economists predict these new duties'll jack up food prices in the US.
Now, here's where things get interesting, though it ain't exclusively 'bout China and the US. Countries like Cambodia, Thailand, India, South Korea, and more are hoppin' into the negotiation ring with the US after various tariff announcements by the Trump administration. asia's / Countries Negotiating Trade Deals
List of Countries Negotiating Trade Deals
- Cambodia
- Thailand
- India
- South Korea
- Argentina
- Canada (after Canadian elections)
- Mexico
- Switzerland
- Malaysia
- Indonesia
- Japan
- Vietnam
On the flip side, China and the EU have retaliated with increased tariffs on US goods.
Countries Retaliating
- China
- European Union
- Canada
[1] The Wall Street Journal[2] CNBC
- The employment policy within the Trump administration appears to be focused on aggressive trade negotiations, as demonstrated by the proposed additional 50% duties on Chinese imports, which would increase existing duties to 104%.
- Notably, Beijing has imposed counter-duties of 34% on US imports, which could escalate further if the proposed countermeasures by Donald Trump are implemented.
- The new employment policy's impact extends beyond the US-China trade battle, as countries like Cambodia, Thailand, India, South Korea, Argentina, Canada, Mexico, Switzerland, Malaysia, Indonesia, Japan, and Vietnam are reportedly negotiating trade deals with the US.
