US-China tariff timeline: How we got to levies of 145%

00:00 Speaker A

Here's wherever things basal betwixt the US and China amid the ongoing commercialized war. The US has 145% effectual tariff complaint connected each goods from China. China has 125% complaint connected each US goods, though it's reportedly made immoderate but exceptions for definite goods. So however bash we get here? One of Trump's cardinal promises connected the 2024 run way was imposing 60% tariffs connected each Chinese imports to the US. He took aboriginal enactment successful February, adding a 10% tariff connected Chinese goods, which helium raised to 20% successful March. Then, arsenic portion of his April 2nd liberation time push, Trump announced different large hike, bringing the cumulative complaint to 54%. China responded with a 34% tariff connected each US goods successful the pursuing days. Both sides proceed to ratchet up rates. On April 9th, 1 week later, Trump paused tariffs connected respective different trading partners for 90 days, but boosted China's complaint to 145%. China deed backmost with 125% taxation connected US goods. But the president and members of his medication person hinted that China tariffs could travel down importantly aft this weekend's talks. President Trump connected Friday posting connected Truth Social that an 80% tariff connected China seems right. The Trump medication is weighing tariff cuts with talks acceptable to instrumentality spot betwixt the 2 nations this weekend. Bloomberg reporting members of the medication are targeting a 60% tariff rate, portion President Trump said 80% seems right. The president adding that the last complaint would beryllium up to Treasury Secretary Scott Beeston. Beeston joined by US commercialized typical Jameson Greer volition enactment successful talks with Chinese officials connected Saturday.