Breaking | Trump announced 34% reciprocal tariffs on Chinese goods as part of ‘Liberation Day’ package
United States President Donald Trump announced 34 per cent tariffs on Chinese goods on Wednesday, unveiling them as part of a sweeping “Liberation Day” package aimed at reshaping American trade policy.
Speaking at the White House on Wednesday, Trump said “we’re going to be charging a discounted reciprocal tariff of 34 per cent”.
Trump has vowed for months to impose what he calls “reciprocal tariffs” to match other countries’ higher tariff rates for specific goods and offset non-tariff barriers that put US exports at a disadvantage. The tariffs, he said, would correct years of “unfair” trade during which other countries had been “ripping off” the US.
Trump said the tariffs would take effect tomorrow.
He has cited a wide range of rationales in support of imposing tariffs, including protecting national security, addressing trade practices such as intellectual property theft, reducing the US trade deficit and revitalising domestic manufacturing.
01:44
China vows to take ‘all necessary measures’ after imposition of latest US tariffs
China vows to take ‘all necessary measures’ after imposition of latest US tariffs