Beijing responded to the United States’ increase in customs duty rates on Chinese goods by raising them to a similar level of 104%. Trump wasted no time in retaliating against China’s response. He announced that tariffs on China would be increased to 125%, while additional tariffs for more than 75 countries that did not retaliate within 90 days were put on hold.

The trade war between the US and China is escalating every day with the imposition of new tariffs. Trump recently revealed new tariffs on China.

Trump stated, “Based on China’s disrespect towards global markets, I am immediately raising the customs duty rate to 125%. Hopefully, China will soon understand that the era of exploiting the US and other countries is neither sustainable nor acceptable.”

90-DAY POSTPONEMENT FOR OVER 75 COUNTRIES
Furthermore, Trump declared that new tax rates applied to over 75 countries without taking retaliatory measures would be put on hold for 90 days. During this period, countries would only pay a basic tariff of 10%.

US STOCK MARKETS SOAR
Following Trump’s recent statements, the US stock markets soared.

“NON-RETALIATING COUNTRIES TO BE REWARDED”
US Treasury Secretary Bessent mentioned, “Countries not retaliating against the US on tariffs will be rewarded.” He stated that Mexico and Canada are included in the 10% basic tax decision.

“CHINA IS THE ONLY COUNTRY ESCALATING THE SITUATION”
US Treasury Secretary Bessent indicated the need for deregulation to allow banks to hold more debt securities, emphasizing the US’s strong dollar policy.

Bessent claimed that there is little uncertainty and companies would testify to him that the economy is “very strong.” Asserting that “we are economically very sound,” he noted that if other countries do not retaliate, the tariff levels are at their peak.

Stating that countries are eager to negotiate with the US, with 70 negotiations in line, the US official said, “I will take on a leadership role in tariff-related negotiations,” alleging that China is the only country “escalating” the current situation.

PREVIOUS CHINA RETALIATION
As Trump’s new customs duty rates came into effect today, the Chinese Ministry of Finance previously announced retaliatory measures, imposing additional tariffs on US goods. The Ministry stated that the new additional tariff rate on US goods would be 84%. This rate was previously announced as 34% in China’s statement. The Ministry reported that the additional tariff on US goods would be effective as of April 10.

TRUMP’S NEW MOVE
TRUMP: EARNING 2 BILLION DOLLARS
During a program at the White House, with coal miners in attendance, Trump stated, “You often hear about customs tariffs; thanks to these tariffs, we’re making nearly 2 billion dollars every day. Yes, 2 billion dollars a day, and our business is doing very well, really well.”