President Donald Trump announced Wednesday that he is immediately raising the tariffs on Chinese goods to 125% over Beijing’s “lack of respect” toward America. Simultaneously, he will be pausing and lowering reciprocal tariffs on other countries. “At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable,” Trump posted on his Truth Social media platform.
Trump said that his reciprocal tariffs on other countries would be paused for 90 days, during which the tariff rate would be 10%. Trump’s move comes just hours after China announced it was increasing its reciprocal tariff on U.S. goods from 34% to 84%.
United States Secretary of Commerce Howard Lutnick posted Trump’s Truth Social announcement and wrote, “Scott Bessent and I sat with the President while he wrote one of the most extraordinary Truth posts of his Presidency. The world is ready to work with President Trump to fix global trade, and China has chosen the opposite direction.”
Fox Business reports that “Among Trump’s tariffs that went into effect early Wednesday also included a 20% tariff on products from the European Union, 24% on Japan and 25% on South Korea. Earlier Wednesday, the European Union announced the approval of retaliatory tariffs on $23 billion in U.S. goods as “countermeasures” to Trump’s tariffs – a 20% levy on EU imports that he announced last week – though it said the 27-country bloc remained open to dropping the tariffs “should the US agree to a fair and balanced negotiated outcome.”
