The Chinese government vowed to retaliate against the United States if President Donald Trump does not walk away from his threat of imposing 100% tariffs on Chinese imports due to Beijing’s newly introduced restrictions on rare earth exports.
Read More China vows to retaliate if Trump doesn’t walk back 100% tariff threat as trade war heats back up
President Donald Trump announced on Friday that the U.S. will impose a 100% tariff on Chinese imports, retaliating after China announced its restrictions on exports of rare earth materials critical to U.S. industries.
Read More U.S. imposes 100% tariff on Chinese imports following rare earth export restrictions announcement
New reports have indicated that China’s exports to the U.S. plummeted in May. This sharp declines comes as a temporary truce between the world’s two largest economies arrived “too late” to prevent major port disruptions.
Read More Chinese exports to U.S. plummet 35% in May — biggest decline since COVID began
The Trump administration has cut tariffs on cheap Chinese goods from certain shopping sites like Shein and Temu to as low as 30%.
Read More Report: U.S. Reduces Tariffs On Temu And Shein Shipments To As Low As 30%
President Donald Trump has announced that semiconductors and chips imported into the United States will be hit with specific tariffs, adding that the tariff percentages for the products will be announced within the week.
Read More Trump Unveils New Tariffs On Foreign Electronics, Boosting U.S. Chip Industry
As the trade war continues China implemented an additional 84% tariff on its levies on U.S. imports.
Read More China Hits U.S. Imports With 84% Retaliatory Tariffs In Escalating Trade War