The article details the escalation of the US-China trade war, with the White House announcing potential tariffs of up to 245 percent on Chinese imports. This figure includes existing tariffs, a 20 percent tariff to address the fentanyl crisis, and tariffs ranging from 7.5 percent to 100 percent on specific goods. The announcement follows China's imposition of retaliatory tariffs after the US implemented its own tariffs.
President Xi Jinping, during visits to Southeast Asian countries, has stressed the negative consequences of tariff wars and promoted the value of free trade, signing multiple deals with Vietnam, Malaysia, and Cambodia. His statements contrast with China's protectionist trade practices and significant trade surplus with the US.
China's foreign ministry spokesman, Lin Jian, responded to the increased tariffs by stating that the US initiated the trade war and China is merely acting in self-defense. In contrast, the White House asserts that China needs to negotiate a deal.
An Apple Insider commentary suggests the 245 percent figure is misleading, representing a maximum tariff across a wide range of goods and not necessarily affecting major tech companies.
The White House also announced the restoration of a 25 percent tariff on steel and an increase in the aluminum tariff to 25 percent as part of a plan to restore fairness in US trade relationships.