TRUMP’S Bold Move: White House Slaps 145% Tariff on China Imports
— The White House has announced a staggering 145% tariff on imports from China. This combines President Trump’s 125% “reciprocal” tariff with an existing 20% fentanyl-related charge. It’s part of Trump’s tough trade strategy, aimed at pressuring Beijing over illegal immigration and the opioid crisis. This unprecedented rate seeks to reshape global trade dynamics.
Global markets reacted sharply, with the Dow Jones dropping over 2,000 points — a 5% decline. Other indices like the S&P 500 and Nasdaq also fell significantly. Investor anxiety has weakened the U.S. dollar amid concerns about economic stability and increased household costs estimated at $3,443 annually due to tariffs.
Despite pausing tariffs on other international goods, Trump stands firm against China while Beijing shows willingness for negotiations under mutual respect and equality terms. However, China warns of retaliation if provoked further in this escalating trade war scenario.
Vice President JD Vance defends the administration’s hardline stance as essential for “fair trade and more self-reliance” in America’s economy. The situation highlights fragile international economic relationships and potential long-term impacts on global growth as debates continue over this bold move by the White House.