WORLD

US slaps 245% tariffs on China in response to retaliatory measures

In a dramatic escalation of trade tension, US President Donald Trump’s administration slapped sweeping new tariffs on Chinese imports, with rates as high as 245 per cent on some items. The move is a part of Mr Trump’s renewed “America First Trade Policy” and comes amid growing geopolitical and economic rivalry between the US and China.
The impact is far-reaching and touches everything from medical devices to electronics and apparel. The tariffs vary in rates for different products.
Smartphones and laptops are exempt from the highest 245 per cent tariff, and they currently attract only 20 per cent tax.  
However, Mr Trump has hinted at taxing these products differently by moving them to a new bucket soon.
According to a White House fact-sheet, these tariffs are a direct response to China’s recent export controls on critical raw materials and its retaliatory tariffs targeting US exports.
The administration has accused Beijing of weaponising its control over supply chains by restricting the export of key minerals such as gallium, germanium and antimony, and more recently, rare earth magnets and six heavy rare earth elements essential to aerospace, defence and semiconductor manufacturing.
“China now faces up to a 245 per cent tariff on imports to the United States as a result of its retaliatory actions,” the White House has said.
In response to the escalating tariff war between the US and China, White House Press Secretary Karoline Leavitt said that Mr Trump is open to making a trade deal with China, but Beijing should make the first move.

Report By