U.S. President Donald Trump has raised tariffs on Chinese imports to 125% with immediate effect, while simultaneously offering a 90-day pause with reduced 10% tariffs to approximately 75 countries that have not retaliated against earlier U.S. trade measures.
“Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately,” Trump wrote.
The move comes shortly after China responded to earlier U.S. tariff increases by raising its own duties on American products to 84%.
Trump added: “At some point, hopefully in the near future, China will realise that will realise that the days of ripping off the USA, and other countries, is no longer sustainable or acceptable”.
The European Union, which recently finalised retaliatory measures worth 21 billion euros against previous U.S. tariffs on steel and aluminium, appears to be excluded from the 90-day reprieve.
Trump’s statement specified that the pause applies to countries that “have not, at my strong suggestion, retaliated in any way, shape, or form against the US”.
U.S. Treasury Secretary Scott Bessent said on Wednesday that he believes the Trump administration can reach tariff agreements with U.S. allies as he prepares to lead negotiations with more than 70 countries in the coming weeks.
“I think at the end of the day we can probably come to an agreement with our allies, with other countries that have been good military allies and not perfect economic allies. And then we can approach China as a group,” Bessent said.
Bessent noted that Trump has already spoken with leaders from Japan and South Korea, and U.S. officials are scheduled to meet with a delegation from Vietnam.
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