President Donald Trump’s tariffs on Chinese imports are now at least 145%, well above the level that many economists said that trade between the United States and China could decimate.
Trump imposes a 125% tax designed both to counteract the United States trade deficit with China and to punish Beijing for retaliation against taxes to US imports. This figure, published in a White House memorandum on Thursday, adds to a 20% tax implemented earlier this year by China’s role in fentanyl traffic.
The amazing tariffs imposed by the United States to the second largest economy in the world have triggered a commercial war that has nervous the world financial markets.
The shares fell on Thursday, one day after the largest wave of purchases in years, while investors prepared for greater commercial hostility. The S&P 500 index fell around 3.5% after the news, and the euphoria gave way to restlessness.
The implementation of tariffs by Trump has been marked by confusion, since it has changed course repeatedly. On Wednesday, the president postponed the plans to impose higher tariffs on dozens of countries after their entry into force, even while intensifying his commercial conflict with Beijing.
The other US business partners will face a general import tax of 10% to allow a period of 90 days to negotiate individual trade agreements. If this does not prosper, the highest tariffs will take effect on July 9.
The order of the president published on Thursday increased further taxes on small packages from China that were not previously subject to taxes, which could affect US buyers who acquire retail products such as Temu and Shein Group Ltd.
The United States will tax imports of items with a price of up to US $ 800 at a rate of 120% of its value, compared to the previous plan to impose an AD VALEM Tax of 90%.
The postal shipping rate for goods that enter after May 2 and before June 1 will increase from US $ 75 to US $ 100. The packages that enter after June 1 will have a position of US $ 200 per article, instead of the US $ 150 previously announced.
