A recent update from the White House, shared through a fact sheet on Wednesday, revealed that China is now facing tariffs of up to 245 percent on goods imported into the United States due to its retaliatory measures.
Before this update, the tariff on Chinese exports stood at 145 percent.
Previously, President Donald Trump had introduced matching tariffs on a number of countries as a response to the ongoing trade imbalance.
He introduced what he called the “Fair and Reciprocal Plan” to bring equity back into America’s trade engagements and to challenge unfair trade practices.
Eventually, he opted to put those tariffs on hold for a 90-day period, after several nations entered into negotiations with the US administration to reach trade agreements.
As noted in the White House fact sheet, “More than 75 countries have already reached out to discuss new trade deals.
“As a result, the individualised higher tariffs are currently paused amid these discussions, except for China, which retaliated.”