President Trump may have hit the brakes on reciprocal tariffs levied against many of the US’ top trading partners, but the duties imposed on China will reach a staggering 145% on certain goods, a White House official confirmed to The Post
Trump announced Wednesday that his tariff scheme would be put on pause for 90 days after a dozens of countries came forward looking to make a deal — lowering the baseline rate on most foreign imports to just 10% in the meantime.
But the reprieve does not apply to China, which Trump slapped with an eye-popping 125% duty over what he called “a lack of respect” from Beijing. That combined with a 20% fentanyl tariff already in place means some imports will be subject to a total tariff of 145%, CNBC first reported.
America buys more from China than any other country in the world, except Mexico — to the tune of nearly $440 billion in 2024. All kinds of consumer goods come from China — including electronics like iPhone, toys, clothes and shoes.
China retaliated by imposing its own 84% tariff rate on US goods, which took effect Thursday.
The US exported more than $143 billion worth of goods to China in 2024, including products like soybeans, aircraft and aircraft parts, pharmaceuticals, semiconductors and vehicles.
Chinese exports rose a whopping 13% in 2023 and 17% in 2024. Exports make up about 20% of the country’s GDP.
Meanwhile, American exports — which were higher than ever 10 years ago — are slumping. Exports only account for 11% of the US GDP — down from 13.6% in 2012.
US exports to China in particular fell almost 3% last year, to a total of $144 billion, according to the US Trade Representative’s Office.
The trade deficit between the two countries has also widened, reaching $295 billion.
Trump initiated the 90-day pause with trading partners besides China in part due to a sharp decline in US stock indices since the start of the trade war.
“I thought people were jumping a little bit out of line, they were getting yippy, you know, they were getting a little bit yippy, a little bit afraid, unlike these champions,” he told reporters Wednesday from the White House South Lawn at an event featuring NASCAR Cup Series champions Joey Logano and Ryan Blaney.
Markets had their best day since 2001 following the announcement, but ceded significant ground when trading resumed Thursday.