U.S. President Donald Trump’s punishing tariffs on dozens of economies came into force on Wednesday, April 9th, including a staggering 104% in levies against Chinese goods.
Trump said on Tuesday his government was working on “tailored deals” with trading partners, with the White House saying it would prioritise allies like Japan and South Korea.
His top trade official Jamieson Greer also told the Senate that Argentina, Vietnam, and Israel were among those who had offered to reduce their tariffs.
But Beijing has shown no signs of standing down, vowing to fight a trade war “to the end” and promising countermeasures to defend its interests.
China’s retaliatory tariffs of 34% on US goods are due to enter into force on Thursday.
The U.S. president believes his policy will revive America’s lost manufacturing base by forcing companies to relocate to the United States.
The EU—which Trump has criticized bitterly over its tariff regime—may unveil its response next week to the new 20% levies it faces.
In retaliation against U.S. steel and aluminium levies that took effect last month, the EU plans tariffs of up to 25% on American goods ranging from soybeans to motorcycles, according to a document seen by AFP.
