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Image Credit: Bloomberg Quint

Trump China Tariffs Now At Least 145% As Trade War Ramps Up

  • President Donald Trump’s tariffs on Chinese imports are now at least 145%, far above the level many economists said could decimate US-China trade.
  • The staggering US tariffs on the world’s second largest economy have triggered a tit-for-tat trade war that has unnerved global financial markets.
  • The president’s order published Thursday raised taxes even further on small packages from China, which could hit American shoppers purchasing goods from retailers like Temu and SheIn Group Ltd.
  • The US will tax imports of items priced up to $800 at a rate of 120% of their value, up from a prior plan to levy a 90% ad valorem tax.

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