Trump announces 34% reciprocal tariffs on Chinese imports as part of ‘Liberation Day’ package
United States President Donald Trump announced 34 per cent tariffs on Chinese imports on Wednesday, unveiling them as part of a sweeping “Liberation Day” package aimed at reshaping American trade policy.
Speaking at the White House on Wednesday, Trump said “we’re going to be charging a discounted reciprocal tariff of 34 per cent”.
At the event, held in the Rose Garden, Trump held up a chart listing numerous US trading partners and the tariffs he said they charged the US, then said the US would charge half as much. He provided no explanations for the calculations used to determine the other nations’ tariffs.
He said that China, which topped the chart, assessed US imports tariffs of 67 per cent.
Trump had vowed for months to impose reciprocal tariffs to match other countries’ higher tariff rates for specific goods and offset non-tariff barriers that put US exports at a disadvantage.
The tariffs, he said, would correct years of “unfair” trade during which other countries had been “ripping off” the US.
Trump said the tariffs would take effect on Thursday.