President Donald Trump has made two major changes to his samples from China while trade tensions between the United States and China continue to degenerate.
In an executive decree on Tuesday, the president described the two new changes – increasing the tariffs on China to 104% and tripling prices on low -cost packages.
The order intervened a few hours before Trump’s reciprocal prices took effect on Wednesday morning. He announced for the first time the prices on April 2, one day he called the “Liberation Day”.
He imposed a 10% reference direct debit on the goods of 185 countries, some countries have struck stronger. Some countries have been struck stronger than others – the European Union was affected was a tariff of 20%, Vietnam with 46%and Lesotho with 50%.
Increase tariffs on China from 34% to 84%
Trump’s decree wrote on Tuesday that Wednesday, the reciprocal prices on China would be noted by the 34% that he announced on April 2 at 84%.
These are prices of 20% already in place – which brings the total of tariffs to China to 104%.
This change is “recognition of the fact that the PRC announced that it would retaliate against the United States,” said the decree.
This is the biggest climbing between the two countries in recent months, corresponding and exceeding the promise of the Trump campaign path to impose Prices over 60% On Chinese products if they are elected.
Trump first imposed a 10% price on Chinese products in February before Increase them to 20% In March.
Twice, China quickly retaliated on Trump’s prices. In February, in China imposed A 10% tariff on crude oil and agricultural equipment and a 15% rate on coal and liquefied natural gas.
In March, in China presented A price of 10% on imports of soy, pork and beef and a 15% price on imports of chicken and cotton.
After Trump’s announcement on April 2, China retaliated with its own 34% rates against the United States, which will take effect on Thursday. At the time of the press, China has not yet responded to the last 104%prices.
The Chinese Commerce Ministry said Trump’s prices were “completely baseless” on Tuesday and a “typical unilateral intimidation practice”.
“China will never accept that. If the United States insists on its way, China will fight until the end,” the Ministry of Commerce said in a statement.
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Increased minimis prices
On April 2, Trump announced via an executive decree that it would remove the flaw from the minimis price exemption for packages costing less than $ 800 in China and Hong Kong.
He said that a 30% levy would be imposed on these packages from May 2. But Tuesday Trump tripled it 90%.
According to Tuesday’s decree, he also increased the fees of items by Postel on goods entering the United States after May 2 and before June 1 of the $ 25 scheduled for $ 75.
After June 1, the costs were originally supposed to be $ 50 – but it is now $ 150, according to the decree.
Trump representatives did not respond to a request for comments from Business Insider.
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