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.