Trade between America and China(China)

Washington: America and China  (China) have now come face to face over tariffs. America has now announced to impose a total of 104 percent tariff on China on Tuesday. The new American tariff on China will come into effect from April 9. The White House has given this information. Earlier, China retaliated on the US threat of imposing an additional 50 percent tariff and said on Tuesday that if America is intent on waging a tariff war or trade war, then China is ready to fight till the end. A few hours ago, President Xi Jinping also said that the Chinese economy is an ocean, not a pond. A storm can overturn a pond, but never an ocean.

Tariff collection will start from April 9

White House Press Secretary Caroline Levitt confirmed on Tuesday that the 104% tariff imposed on China will come into effect from 12 noon (EST) today, as China failed to remove its 34% retaliatory tariff by the deadline. The tariff collection will begin on April 9. Earlier on Monday, Trump threatened to raise existing tariffs on China by 50% on Wednesday if Beijing did not remove its retaliatory tariffs on US goods by Tuesday. On the same day, Trump said China would face a 12 pm deadline to remove its tariffs. On the other hand, Beijing vowed that it would not eliminate its 34% retaliatory tariffs.

Trade between US-China

The US’s total merchandise trade with China in the year 2024 was about $582 billion, making it the top trader of goods with the US. The deficit in trade in goods and services with China in the year 2024 was between $263 billion and $295 billion. The White House has informed that about 70 countries have shown interest in starting tariff talks with the US, indicating a global effort to make new trade agreements.