White House officials on Thursday clarified that President Donald Trump imposed a 145 per cent tariff on Chinese imports into the U.S.
Trump had on Wednesday said that he was increasing tariffs on China to 125 per cent after Beijing retaliated against his previous levies.
However, officials have explained that the figure is in addition to a 20 per cent tariff already implemented when Trump returned to office, bringing the cumulative rate to 145 per cent, reports The New York Times.
China remains the second-largest source of U.S. imports and is the world’s leading manufacturer of products such as cellphones, computers, toys, and other consumer goods, according to The New York Times.
In response to the escalating trade tensions, the Chinese government has vowed to “fight to the end” against Trump’s tariffs.
“China has taken, and will continue to take, resolute countermeasures to safeguard its sovereignty, security, and development interests,” the Ministry of Commerce stated on Wednesday.
The strain in relations has also spilt over into the entertainment sector. According to the BBC, while Warner Bros.’ A Minecraft Movie recently topped China’s box office, Beijing announced plans to reduce the number of American-made films allowed in its cinemas.
Officials cited a drop in public interest due to the ongoing tariff dispute. Currently, China limits U.S. film releases to just 34 titles per year.
With the growing success of domestic productions, Hollywood’s influence in the Chinese market has steadily declined, and the latest development represents another setback for the American film industry.
Despite the backlash, Trump defended his policy during a cabinet meeting on Thursday, saying it was part of his strategy to ensure fair treatment in global trade.
“Everybody wants to come and make a deal,” Trump said.
“Investors are happy with how the country is running as we try to get the world to treat us fairly,” he added.
