The White House has published a document confirming that China’s 34% tariff rate — set to come into effect in a few hours — will be increased to 84%.
Chinese exports to the US had already been subjected to 20% tariffs. This means that the total tariffs on Chinese goods will reach a whopping 104%.
The move comes «in recognition of the fact that the PRC has announced that it will retaliate against the United States», the White House statement reads.
After Trump unveiled a 34% so-called «reciprocal» tariff on Chinese goods, China slapped its own 34% counter-tariff on US goods.
