US-China trade war: Tariffs Up To 245% On China

The trade war, which was ignited by US tariffs, has created a climate of uncertainty for the global economy. Even countries not directly affected by the tariffs are feeling the impact. President Trump's recent executive order, which could impose tariffs as high as 245% on China, has only added to the confusion.

Previously, the US imposed a 145 percent tax on China, prompting the latter to retaliate with 125 percent levies, escalating tensions between the two countries. Furthermore, Beijing prohibited the export of some materials used by aerospace manufacturers and military manufacturers.

China's Foreign Ministry spokesperson Lin Jian stated that the US started the trade war and that the government is still taking a serious stance on tariffs in the wake of the recent imposition of 245 percent US tariffs on the nation. According to local media, Lin stated that "you can ask the US side for the specific tax rate figures" in response to a question regarding the new tariffs.



Trump has stated that he is open to a deal, despite the fact that the trade war is intensifying and there is no indication that anyone will back down. However, as reported by numerous news outlets, China must initiate any negotiations towards a solution.

The US had previously imposed tariffs as high as 100% on some Chinese goods, including electric vehicles (EVs), even before Trump's recent tariff announcements, as reported by USA Today. Trump announced a 25% tariff on imported cars starting April 3rd, and the same rate for auto parts from May 3rd.

However, there were suggestions that he might temporarily exempt the auto industry to allow for supply chain adjustments.