With staggering figures, President Donald Trump is intensifying the trade battle between the United States and China, which has recently reached yet another boiling point.
According to Newsweek, Trump is threatening to raise taxes on Chinese goods to an astounding 245% in his most recent volley, taking the economic conflict to the level of a full-fledged trade war.
Officials at the White House said the tariffs are a direct response “as a result of its retaliatory actions,” citing China’s retaliatory actions as justification for the drastic move.
This follows a series of back-and-forth escalations that started earlier this month when Trump announced 145% tariffs on Chinese imports, a move he dubbed “Liberation Day.”
Beijing quickly retaliated, imposing a high-stakes ban on Chinese airlines purchasing from Boeing and imposing 125% taxes on American products. That action slammed the brakes on component procurement.
