
President Donald Trump Wednesday Taken the truth social to stop a new temporary trade deal with China, although historically high levels of tariffs against Beijing should be left.
“We are getting 55 % of the total revenue, China is getting 10 %.” Post Social Red for the truthWith later post, “” President XI (Jinping) and I am going to work together to open China for US trade. It will be a huge win for the two countries !!! “
Under this new arrangement, if it stands, the US tariff rate against China will be set at 55 %, which is, in fact, at a rate of 30 % when the two countries announced peace in May at the beginning of their talks. This has come after a number of rounds, in which import taxes against China have increased the whole route after reaching 145 %. In addition, Trump said that the United States will have access to extraordinary land minerals from China – which is important for the manufacture of technology like smartphones – while in return Chinese students will be allowed to go to US colleges and universities.
During his first term, the average rate against China in Trump’s trade war with China increased by 20 %, which did not change massively during Biden’s presidency. Given how much the United States has traditionally imported from China, the increase in revenue on goods will have a huge impact on the cost of goods against other countries against other countries.
It is unclear at this point when it will be implemented 55 %. Earlier, the rate of 30 % will continue until August, while the talks continue. It is also unclear whether this rate will affect all imports from China, or if something will be saved.