Tit for Tat is back! Sorta
China Faces 245% Trump Tariff (although it seems to be more a calculation than any change)
The White House said China is facing up to a 245 percent tariff on imports to the U.S. "as a result of its retaliatory actions," as the trade war between the world's two largest economies continues to heat up.
The top potential tariff was referenced in a fact sheet published by the White House late on Tuesday. It accompanied an executive order signed by President
Donald Trump that launched an investigation into the "national security risks posed by U.S. reliance on imported processed critical minerals and their derivative products." [short answer: it's bad and there's virtually nothing we can do about it.]
[White House says the 245 is a maximum that some products could face.]
Electric vehicles, for example, have outstanding Section 301 tariffs of 100 percent dating back to the Biden Administration, meaning these products would face a 245 percent rate in total.