US imposes 145% tariffs on China amidst trade tensions
American tariffs on imports from China are currently 145%, following the previous increase, as reported on Thursday by CNBC, citing statements from White House representatives.
According to the latest findings, US tariffs on China include both a 125% rate, which covers so-called reciprocal tariffs, and the tariffs imposed on China for Chinese retaliatory tariffs. The tariffs on Beijing also include a 20% rate imposed by Trump earlier this year for alleged fentanyl smuggling.
US tariffs on the world's second-largest economy are a result of the escalation of the trade war, in which subsequent decisions on retaliatory tariffs follow very quickly.
Trump suspends tariffs
On Wednesday, US President Donald Trump decided on a 90-day pause in the application of increased tariffs, except for China. During this time, the tariffs are to remain at 10%. The decision came 13 hours after the new US tariffs on imports took effect.
On Thursday, the S&P 500 index is down 3.2%, the Nasdaq Comp. is declining by 4.4%, and the DJI is going down by 3%.
