Trump Raises China Tariff to 125%
US President Donald Trump announced on Wednesday that the US would immediately raise tariffs on Chinese imports to 125%, escalating the ongoing trade dispute between Washington and Beijing. Trump cited China's lack of respect for global markets as the reason for the dramatic increase, CE Report quotes Anadolu Agency
In contrast, the president extended a 90-day reprieve to over 75 nations, allowing them time to negotiate trade terms and avoid higher tariffs. These nations will be subject to a lowered 10% reciprocal tariff during this period.
The announcement caused US markets to surge, with the Nasdaq up over 7.8% and the Dow rising by 5% in mid-day trading. The Trump administration emphasized that these actions were taken in response to China’s continued escalation and to encourage negotiations with other nations.
