Trump bumps up tariffs on Chinese imports to 245 percent

US president Donald Trump has once again bumped up tariffs on Chinese imports. In the latest update from the White House, the Trump administration now said “China faces up to a 245 percent tariff on imports to the US as a result of its retaliatory actions”.

This includes a 125 percent reciprocal tariff, a 20 percent tariff to address the fentanyl crisis, and Section 301 tariffs on specific goods, between 7.5 percent and 100 percent, a “Fact Sheet” from the White House noted.

The White House also reaffirmed its commitment to pausing higher tariffs for countries it says are currently in discussion with the US on new trade deals. The administration claimed that more than 75 regions have reached out to weigh such deals, contrasting China’s retaliatory approach.

Countries in discussion with the US now face a standard 10 percent tariff, while countries with which the US has the “largest trade deficits” are subject to individualised reciprocal higher tariffs “to level the playing field and protect America’s national security”.

China’s tariffs on US goods currently stand at 125 percent, however, the region has also taken measures further, reportedly limiting the release of US films and requesting for local airlines to stop ordering US-made parts.

According to multiple media outlets, Beijing called the most recent uptick in tariffs a “joke” that no longer has “any economic significance”.