The White House has said that the United States has decided to impose 104 percent tariffs on some Chinese products starting at 1:12 a.m. today.
White House Press Secretary Caroline Levitt said that 104 percent tariffs will be applied to some Chinese products.
The move comes after China did not withdraw its retaliatory tariffs. She said that President Trump believes that China wants to make a deal. Levitt said that about 70 countries have contacted the United States for tariff negotiations.
There will be no delay or extension of the tariffs. On the other hand, China has previously said that if the United States increases its tariffs, we will take resolute countermeasures to protect our rights and interests.
China’s Ministry of Commerce spokesperson Lin Jian said that the tariff war is ready to fight to the end. The so-called US retaliatory tariffs against China are baseless.
China’s countermeasures are completely legitimate, aimed at protecting China’s sovereignty, security and development interests, as well as maintaining a normal international trade order.
US buyers have begun to suspend orders from Bangladesh, the world’s second largest garment manufacturer, after President Trump imposed tariffs.
Trump has imposed a new 37% tariff on Bangladeshi cotton products. Trump has issued a message to Americans facing economic uncertainty after the tariffs, saying that you should not panic at all.
According to experts, the fear of a recession in the United States has increased to 60%. According to a Gallup survey, Trump’s popularity fell by 4 percentage points to 43%. EU trade ministers met in Luxembourg.
At a media briefing after the meeting, the EU Trade Commissioner said that preparations are underway to impose retaliatory tariffs on US products. The final list of products for the tariffs will be approved on April 15.
