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While President Donald Trump has paused “reciprocal” tariffs on most countries, leaving just the new 10% baseline import duty, he increased the tariffs on China to 125%. The country had already been slapped with a 20% tariff, so Chinese imports now attract a 145% levy.
That’s a humongous sum, and one need not be an economic wizard to predict that these tariffs will severely impact trade between the world’s two largest economies. Trade won’t come to a halt as U.S. buyers won’t be able to overnight find other suppliers — either domestically or internationally — but they will start sourcing from other countries wherever that’s feasible.
