• Source:JND
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The United States on Wednesday imposed a 125 per cent tariff on China, just one day after implementing a 104 per cent increase. This decision by the Trump administration was made in response to Beijing's 84 per cent retaliatory tariff on all American products, more than doubling the previous rate of 34 per cent. 

The new tariffs were enacted immediately, escalating tensions between the two economic giants.

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“Based on the lack of respect that China has shown to the World's Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable,” Trump said in a Truth Social post. 

Besides, the US President halted all the “reciprocal” tariffs on 75 countries for 90 days, maintaining that these countries didn’t retaliate in any way and approached for a negotiation. 

“Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” he added.

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The impact of Trump's decision on the stock markets is yet to be seen.