The United States is increasing tariffs on China to 104%, according to British news agency Reuters. This will take effect from Wednesday (April 9th), the agency reported.
The London-based news outlet cited a White House official in a report on Tuesday regarding this information.
However, earlier in the afternoon, Donald Trump had given China an ultimatum to withdraw tariffs on US goods. The White House has taken this decision after Beijing failed to remove tariffs on American products within the given deadline.
Previously, Trump wrote in posts on various social media platforms including X and Truth Social: "Oil prices are down, interest rates are down, food prices are down, there is no inflation. Through tariffs, the long-neglected United States is now collecting billions of dollars a week from countries that used to exploit us."
In these posts, Trump labeled China the "biggest exploiter" and further wrote, "The market of the biggest exploiter, China, is collapsing. They ignored my warnings and disregarded my request not to retaliate, imposing an additional 34% tariff – on top of their already unbelievably high tariffs!"
In another post, Trump threatened China, stating that if this 34% tariff was not withdrawn by Tuesday, the US would impose an additional 50% tariff on Chinese goods the following day.
According to an Axios report, Trump initially imposed a 20% tariff on Chinese goods. Subsequently, another 34% tariff was added under reciprocal tariffs.
