Donald Trump has abruptly reversed the previously imposed 145% taxes on Chinese goods, just weeks after he escalated the U.S.-China trade conflict with high tariffs…
Early in April, President Trump proclaimed April 2 to be “Liberation Day,” which signaled the beginning of broad trade sanctions against the countries with the biggest deficits in the United States.
The new strategy disproportionately affected China, as initial 20% tariffs on Chinese commodities swiftly increased to 34%, 104%, and finally a startling 145%, with some products subject to duties as high as 245%.
The White House maintained that the purpose of the tariffs was to safeguard American national interests and “level the playing field.”
China promptly countered, imposing a 125% tariff on American goods and prohibiting its airlines from buying planes and parts from the American aerospace giant Boeing. Boeing has not yet publicly responded to this action.
At the same time, Chinese officials complained to the World Trade Organization about the United States’ increasing economic aggression.
