Olusegun Ariyo
The White House has announced that the cumulative duties imposed by the Donald Trump administration on Chinese goods now total 145 per cent.
According to CNBC, this new rate takes effect immediately.
The total comprises 125 per cent in duties imposed in response to China’s allegedly unfair trade practices, combined with a 20 per cent tariff introduced during the early weeks of Trump’s second term as a response to China’s alleged failure to stem the flow of fentanyl.
The 125 per cent rate represents an increase from an initial rate of 84 per cent.
Trump has also raised the tariff on lower-value items worth $800 or less to 120 per cent, up from 90 per cent.
Furthermore, the U.S. president will increase the “per postal item” cost of such goods to $100 starting from 2 May, and to $200 from 1 June.
Transportation carriers delivering shipments from China to the United States must choose between the ad valorem duty or the fixed-dollar-figure duty and will be bound by the chosen methodology for the duration of any given month.
