US President Donald Trump on Wednesday stopped tit for tat or reciprocal tariffs on more than 75 countries for 90 days. This has come into effect with his decision. However, he has not included China in this exemption, but has increased the tariff imposed on it from 104% to 125%. Trump took this action after China imposed a retaliatory 84% tariff.
In simple terms, imposing a 125% tariff on China means that a $100 product made in China will now cost $225 when it reaches the US. The sale of Chinese products will decrease as they will become more expensive in the US.
In simple terms, imposing a 125% tariff on China means that a $100 product made in China will now cost $225 when it reaches the US. The sale of Chinese products will decrease as they will become more expensive in the US.
For the countries which will do the deal, the tariff will remain 10%. Trump said that more than 75 countries have called the representatives of America and these countries have not retaliated in any way against America on my strong suggestion.