White House confirms 104% rates on Chinese imports to take effect from April 9 | Today news

The White House Tuesday (April 8) confirmed that the steep rates of 104% on Chinese goods officially came into effect, which was a dramatic increase in trade tensions between the world’s two largest economies. The additional duties will be collected from April 9, as announced by press secretary Karine Jean-Pierre. Why the US has imposed the additional rates, the tariff increase is part of a broader strategy by President Donald Trump to counteract what he calls ‘long -term trading’ by China. The move follows increasing grievances over persistent trade deficits, and recently is Fentanyl trade that is allegedly linked to Chinese entities. “Other countries are tearing down the United States,” Trump repeatedly argued, defending his aggressive use of rates as a negotiation tool. President Trump imposed a reciprocal rate of 34% on Chinese imports from Fentanyl to ‘Liberation Day’ on April 2, declaring the date ‘Liberation Day’ to mark what he considered a turning point in the US economic independence of China. In addition to an earlier rate of 20%, it was as a punishment for China’s alleged role in providing Fentanyl, a synthetic opioid that contributed to the US drug crisis. Trupst wrote about Truth Social: “If China does not withdraw the 34% increase, the United States will impose extra rates on China of 50%, with effect from April 9.” That additional 50% has now come into effect, bringing total US rates on Chinese imports to 104%. Beijing hits back, rise mineral exports have announced China that a 34% tariff on US goods in retaliation, with effect from April 10, has been announced and the export restrictions on rare earth elements – including samarium, dysprosium and gadolinium – are critical of electronic and defense. “China will never accept it,” a spokesman for the Ministry of Trade of China said, called the US action “an error on the top of an error”. “If the US insists on going on its own way, China will fight to the end.” Markets Jittery, Trump Unfazed Stock Markets responded with caution amid the fear of a renewed trade war. However, Trump remains firm. “The rates give us great power to negotiate,” he told reporters aboard Air Force One. “Sometimes you have to take medicine to fix something.” Trump’s trade philosophy tariffs were central to Trump’s economic doctrine. He argued that they were the key to the revival of US manufacturing, deterred the unfair competition and reduced the US trade deficit by a billion billion billion with China.