22 hours Ago
President Donald Trump imposed 54% tariffs on all Chinese imports into the United States Wednesday as part of his sweeping “Liberation Day” reset of American trade global policy. The tariffs on China, the second top importer to the US behind Mexico, are poised to push a major reset of relations and escalate a trade war between the world’s two largest economies. China has repeatedly vowed to continue to retaliate against American trade restrictions.
Wednesday’s announcement adds 34% “reciprocal” tariffs to existing 20% duties on all Chinese imports to the US. Since returning to power in January, Trump had already levied two tranches of 10% additional tariffs on all Chinese imports, which the White House said was necessary to stem the flow of illicit fentanyl from the country to the US. To skirt existing tariffs, some Chinese companies have shifted production to other Asian countries.
But Trump’s new reciprocal tariffs on other Asian nations announced Wednesday will hurt China, too: Vietnam will face tariffs of 46% and Cambodian goods will be tariffed at 49%. This is a developing story and will be updated. CNN’s David Goldman contributed reporting.
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