The White House said China is now facing up to a 245 percent tariff on imports to the U.S. “as a result of its retaliatory actions,” another escalation in a trade war between the world’s two largest economies.
The top potential tariff is higher than the previously stated 145 percent and was referenced in a fact sheet published by the White House late on Tuesday.
It accompanied an executive order signed by President Donald Trump that launched an investigation into the “national security risks posed by U.S. reliance on imported processed critical minerals and their derivative products.”
Chinese foreign ministry spokesperson Lin Jian was asked about the 245 percent rate at a press briefing on Wednesday. “You can ask the U.S. side for the specific tax rate figures,” Lin said, China News Network reported.
“This tariff war was initiated by the United States, and China’s necessary countermeasures are to safeguard its legitimate rights and interests and international fairness and justice, which are completely reasonable and lawful.”
Trump imposed a 10 percent tariff on imports from all countries. He has temporarily paused additional “reciprocal” rates set individually for each country depending on the trade barriers faced by the U.S. to allow time for negotiations on new deals.
The exception to that pause is China, which is facing increasingly higher tariffs from the U.S. and has responded in kind, among other countermeasures.
This week, China imposed more export controls on rare earths, which include materials used in high-tech products, aerospace manufacturing, and the defense sector.
Despite the eye-watering tariffs and tough rhetoric, both the U.S. and China have said they are open to talks on trade, though further tit-for-tat retaliation is likely in this conflict between two great powers.
If he breaks a law, he can be impeached.
There’s no recall vote.
I don’t think that the level of tariff on China matters all that much anyway once it hits the levels that it’s been raised to. Not many products where someone’s going to just keep paying a 145% tariff (for long, at any rate). Maybe more short-term disruption than otherwise, but outside of that, it’s increasingly just a number.
Of his tariff actions since taking office, I’d guess that this is probably the least concerning. You could argue the specifics, but there was support for at least some tariffs on at least some level of China, and much of the criticism I saw quoted from Republican legislators was that the tariffs needed to be on China, not countries like Canada or the world at large.