US announces 245% import tariff on Chinese goods

Trade war between the US and China worsens

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Washington DC (USA) – In response to China’s decision to impose a 125% import tariff on US goods, the United States has announced a 245% import tariff on Chinese products.

The White House released the following statements regarding the issue :

1. Over 75 countries have already reached out to the US to discuss new trade agreements. As a result, respective hikes in tariffs were temporarily suspended during these ongoing discussions. However, since China has retaliated, a 245% tariff will now be levied on Chinese goods imported into the US.

2. A few months ago, China banned the export of key high-tech materials like gallium, germanium, and antimony. And just this week, it halted the export of six heavy rare earth metals and rare magnets.

3. The White House also claimed that China’s actions aim to restrict the global supply of essential components to automakers, aerospace manufacturers, semiconductor companies, and military contractors.