Trump raised tariffs for China: The White House clarified the figures.

The White House confirmed that the total tariff on imports of goods from China to the USA is 145%. President Donald Trump signed a decree raising tariffs on goods from Beijing to 125% from 84%. In addition, there is a 20% tariff on fentanyl, which Trump imposed against China.

On the other hand, Trump reduced tariffs to 10% for all other trading partners except China.

It was stated that proposals for trade agreements were received from 15 countries. According to WSJ, Trump knew that his tariffs could lead to a recession, but he feared a depression and therefore decided to suspend the introduction of tariffs for 90 days.

Previously, it was reported that the EU approved tariffs on American goods worth 21 billion euros, targeting Republican states.

Analysis

Trump's decision to raise tariffs on goods from China has significant implications for international trade. It indicates that the US president aims to protect American companies and promote domestic production. However, such measures could provoke trade wars that negatively affect the global economy. A full understanding of the situation and its consequences requires additional information.