President Donald Trump imposed 20% tariffs on China after taking office in January. Under a sweeping new plan aimed at stimulating U.S. manufacturing announced Wednesday, he added another 34% in reciprocal tariffs, bringing the total to 54%.
During the elections, the Trump indicated that they would increase China's tariffs to 60%. On February 1st, the President increased tariffs on China. Like 10%, then raised China’s tariff by another 10% on March 4. On March 10th, China imposed a 15% tariff on American goods, including agricultural products.
Computer and electronics makers are likely to face higher production costs after President Donald Trump announced new reciprocal tariffs on Asian nations. Trump said the reciprocal tariff rate on China will be 34%.
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