Trump Raises Tariffs on China: New Escalation in the Trade War

• Trump Raises Tariffs on China to 145%
• China Excluded from 90-Day Truce
• Trump Sees Beijing as Disrespecting Markets

The tariffs that U.S. President Donald Trump has imposed on China now total 145%, according to confirmation from the White House to CNBC.

The U.S. presidency published an amendment on Thursday that reflects the increase of tariffs on Beijing to 125%, as previously announced.

An official confirmed that this new tariff is added to the existing 20% that had been in place since before Trump began the trade war with several countries in April 2022.

China is the only country that the New York-based president excluded from the 90-day truce declared the previous day, while negotiations continue with other trade partners.

Trump Accuses China of Disrespecting Markets Due to Tariffs

According to Trump, Beijing demonstrated a «lack of respect for the markets.»

Before this latest increase, the Asian giant was already subject to a 104% tariff and had imposed retaliatory tariffs on the U.S. to match that figure.

The Chinese government stated that it has a «firm will» and «abundant resources» to respond «with determination» if the United States insists on «further intensifying its restrictive economic and trade measures.»

On his Truth Social account, Trump wrote: «At some point, hopefully in the near future, China will realize that the era of cheating the United States and other countries is no longer sustainable or acceptable.»

This weekend, Trump explained that the tariff exchange between Washington and Beijing derailed a preliminary agreement for TikTok’s operations on U.S. territory.

“We had a deal with TikTok—practically not a deal, but very close—and then China changed it because of the tariffs,” the Republican leader told the press aboard Air Force One.

YOU MAY BE INTERESTED: China «Desperate» for Deal as Trump Threatens Tariffs

Trump added: “If I had slightly reduced the tariffs, they would have approved the deal in 15 minutes, which shows the power of tariffs.”

Since January 20, the date Trump assumed his second term, he has sought an agreement allowing the video app to continue operating in the United States.

On April 2, 2022, a law was passed requiring TikTok to sever ties with its parent company, ByteDance.

One of Trump’s first executive orders extended the deadline by 75 days to find a solution, and last Friday he signed another extension for the same duration.

SOURCE: EFE / YAHOO