- By Ajeet Kumar
- Wed, 16 Apr 2025 01:44 PM (IST)
- Source:JND
US-China tariff war: Amid the ongoing trade war between the United States and China, a White House document claimed the Trump administration imposed massive 245 per cent tariffs on imports from Beijing. "China now faces up to a 245 per cent tariff on imports to the United States as a result of its retaliatory actions," read the factsheet released by the White House on Tuesday.
However, in response to an inquiry about the White House’s statement, Chinese Foreign Ministry spokesperson Lin Jian responded on Wednesday that "you can ask the US side for the specific tax rate figures." Lin said that China has repeatedly stated its solemn position on the tariff issue. "The tariff war was initiated by the US. China has taken necessary countermeasures to safeguard its legitimate rights and interests and international fairness and justice, which is completely reasonable and legal. Tariffs and trade wars have no winner. China does not want to fight these wars but is not scared of them," said the Chinese spokesperson.
US tariff war
President Trump imposed a 10 per cent tariff on all countries and individualised reciprocal higher tariffs on nations with which the US has the largest trade deficits in order to level the playing field and protect America's national security. President Trump unveiled the "Fair and Reciprocal Plan" on trade to restore fairness in US trade relationships and counter non-reciprocal trade agreements.
Trump's reciprocal tariffs have led to a broad-based fall in financial markets globally, with markets plunging in Asia and Europe. The reciprocal tariffs have set off a sell-off in equities globally, and the US itself is no exception. Investors fear that the moves concerning global trade may raise inflation, risking economic growth. Since assuming office for his second term, President Trump has reiterated his stance on tariff reciprocity, emphasising that the United States will match tariffs imposed by other countries, including India, to ensure fair trade.