China’s import taxes on some American goods went into effect Monday, and speaking to reporters aboard Air Force One while on his way to the Super Bowl, President Donald Trump mentioned plans for reciprocal tariffs against more countries but did not specify which ones would be affected.
Over the weekend, Trump disclosed plans to implement a 25% tariff on steel and aluminum imports. This announcement came shortly after securing agreements with Canada and Mexico to avoid similar tariffs that had been previously threatened. Similar measures were implemented during his first term, including 25% tariffs on steel and 10% on aluminum, though certain trade partners, such as Canada, Mexico, and Brazil, were later granted duty-free quotas. The European Union (EU) import taxes remained unresolved until the Biden administration assumed office, reports the BBC.
China recently imposed new tariffs on American goods, including a 15% levy on imported U.S. coal and liquefied natural gas, along with a 10% tariff on crude oil, agricultural equipment, and large-engine vehicles. Additionally, Chinese authorities initiated an anti-monopoly investigation into Google and added PVH, the parent company of Calvin Klein and Tommy Hilfiger, to its “unreliable entity” list. Export restrictions on 25 rare metals, essential for various electronic and military applications, were also announced.
Trump did not clarify on Sunday which nations might receive exemptions if these new tariffs were enforced. His push for reciprocal tariffs aligns with a campaign promise to impose equivalent tariffs on nations that levy taxes on U.S. goods. Additionally, he suggested that tariffs on vehicle imports remain a possibility, despite reports of potential exemptions.
Following the recent implementation of U.S. tariffs, China responded by accusing the U.S. of making “unfounded and false allegations” regarding its involvement in fentanyl trade, arguing that the move was unjustified. A complaint was filed with the World Trade Organization (WTO), claiming that the U.S. tariffs were “discriminatory and protectionist.” However, experts believe China is unlikely to obtain a favorable ruling due to the current dysfunction of the WTO’s dispute resolution panel.\