President Trump announced 54% tariffs on all Chinese imports to the US, escalating the trade war between the two countries. This adds to previously imposed tariffs, bringing the total to 54%.
This action aims to reset US trade policy. China has vowed retaliation. The tariffs also target other Asian countries, with Vietnam facing 46% levies and Cambodia 49%, aiming to counteract the shifting of production away from China.
The Chinese Foreign Minister, Wang Yi, stated that China would “counterattack” against what it views as US “blackmail.” China has already retaliated with tariffs on US imports in response to earlier tariffs imposed by the Trump administration.