Trump Raises Tariffs on Chinese Products to 145%

The extra tariffs that the United States has imposed on Chinese goods have now reached 145%, according to a decree from the White House published this Thursday.

Currently, the United States is one step away from finalizing agreements with several trading nations.

The document states that the 125% increase in tariffs announced by Trump on Wednesday adds to the 20% that has been in effect since early March, as part of the fight against fentanyl trafficking. Additionally, these are stacked on top of existing taxes that were in place before Trump returned to the White House this January. The decree also confirms that there is a pause on certain customs fees affecting other countries. According to Kevin Hassett, an economic advisor at the White House, the United States is evaluating proposals from 15 nations that are seeking tariff agreements and are close to finalizing deals with some of them. "USTR has informed us that there are about 15 nations that have made concrete proposals that we're reviewing to see if they are attractive enough to present to the president," Hassett told reporters at the White House. He also mentioned that the main officials in charge of the government's trade policy would meet later to ensure they focus first on the most relevant countries for this process.

Final Comment: The escalation of tariffs reflects not only the trade tension between the two powers but also the complexity of global trade in an environment where governments seek to protect their economies. Foreign trade decisions have a significant impact on inflation and consumer prices, which could affect the economic stability of the countries involved. It is crucial for countries to agree on tariffs that promote fair and sustainable trade to minimize these repercussions.