More than 75 countries have expressed their willingness to negotiate tariffs with the United States. As Beijing refuses to engage in such talks and takes retaliatory measures, the White House is considering increasing tariffs on Chinese imports, according to a Tuesday press release. The statement indicates that tariffs on goods from China could be raised to at least 245 percent.
US President Donald Trump’s decision to impose tariffs is justified by the White House as the country has a significant trade deficit with several partners. By imposing higher fees, Washington aims to create level playing field and ensure the nation’s security. For countries that did not take retaliatory measures and showed willingness to negotiate trade agreements, the Trump administration has suspended the increased tariffs.
In April, Trump raised the 20 percent tariffs on goods from China, which had been in place since the Fentanyl dispute, to 145 percent. China responded by increasing tariffs on US goods from 84 percent to 125 percent. Additionally, export restrictions on certain raw materials and critical minerals were introduced.