Trump drastically raised tariffs on China and granted concessions to other countries.

Trump raised tariffs on Chinese goods to 125%

U.S. President Donald Trump announced that effective immediately, tariffs on Chinese goods will be raised to 125%. He explained this decision by stating 'the lack of respect that China has shown to global markets' and expressed hope that China understands that the era of the U.S. being taken advantage of by other countries is over.

Concessions for applicant countries

By stirring up panic regarding Chinese goods, Trump promised to grant concessions to over 75 countries that have approached U.S. authorities regarding trade and tariffs. These countries will be given a 90-day period, after which mutual tariffs will be lowered to 10%.

Trump noted that this decision was made in light of the fact that these countries refrained from countermeasures against the U.S.

Future implications

The increase in tariffs on Chinese goods has sparked much discussion and outrage and may affect future relations between the U.S. and China, as well as other countries that have approached the U.S. for concessions.