American leader Donald Trump has made it clear that he is ready to raise tariffs against China to an unprecedented 245% if official Beijing does not agree to the White House's conditions.
Points of attention
- The head of PRC suggests the European Union unite against the US, creating potential diplomatic challenges for the United States.
- The trade war between the US and China continues to impact the global economy, with uncertainties looming over future trade relations.
The US continues to increase pressure on China
The White House draws attention to the fact that on the so-called "Liberation Day," the American leader introduced a 10% universal tariff on goods from all countries, as well as individual higher tariffs for countries with which the United States has the largest trade deficit.
Official Washington continues to claim that more than 75 countries want to discuss new trade agreements with the United States.
After that, Trump temporarily suspended individual tariffs for countries that entered negotiations.
However, what is important to understand is that the exception was China, which immediately resorted to mirror countermeasures.
As a result of these actions, China is now facing tariffs of up to 245% on imports to the United States, the White House emphasizes.
As of today, the cumulative US tariff rate against China has reached 145%.
Official Beijing quickly decided to retaliate against the United States by imposing tariffs on American products and restricting the import of American films.
Moreover, the head of the PRC publicly suggested that the European Union unite to confront the US, but Brussels did not like this idea very much.
