China now faces up to 245% tariffs, Trump responds to Beijing’s retaliatory actions

President Donald Trump on Tuesday (April 15) signed an Executive Order that, amid other things, raises the tariff on goods imported into the US from China to 245 per cent. According to factsheet released by the White House, the move has come in response to China’s retaliatory actions against US duties.

The document points out that following the imposition of tariffs on what Trump has called “Liberation Day”, over 75 countries have reached out to discuss new trade deals, “except for China, which retaliated.” This has been cited as the reason for the substantial increase in the levies imposed on China.

The Trump administration claims that the president’s actions are a step towards enhancing economic and national security, although economists have repeatedly said otherwise.

Interestingly, what stands out this time around is that the typical Trump showmanship around such announcements was missing.

China’s stand so far

The US and China have entered a full-blown trade war. It started with Trump imposing tariffs on imports from China over its alleged role in the fentanyl supply chain. The levies have since been increased multiple times as China refused to capitulate.

This year, Trump has imposed an additional 145 per cent tariff on many goods from China, stacking on top of the duties from previous administrations.

On Wednesday (April 16), China said that it was “not afraid” to fight a trade war with the United States and reiterated calls for dialogue, after US President Donald Trump said it was up to Beijing to come to the negotiating table.

“If the US really wants to resolve the issue through dialogue and negotiation, it should stop exerting extreme pressure, stop threatening and blackmailing, and talk to China on the basis of equality, respect and mutual benefit,” foreign ministry spokesman Lin Jian had said. The comments came before the tariffs on China were raised to 245 per cent.

With inputs from agencies