The Trump administration is hitting China with harsher tariffs after the country failed to meet the president’s 12:00 p.m. deadline on Tuesday to lift its retaliatory tariffs. This comes after President Donald Trump insisted that China wanted to “make a deal badly.”
Press Secretary Karoline Leavitt confirmed on Tuesday that an additional 104% tariff on Chinese imports will be imposed on April 9. In Tuesday’s press briefing, Leavitt also reiterated Trump’s belief that China is looking to make a deal.
CHINA REFUSES TO BACK DOWN ON TARIFFS AFTER TRUMP THREATENED TOUGHER MEASURES
“He believes China has to make a deal with the United States. It was a mistake for China to retaliate,” Leavitt told reporters. “The president, when America is punched, he punches back harder, that’s why there will be 104% tariffs going into effect on China tonight at midnight.”
Leavitt added that Trump said he would be ‘gracious’ if Chinese President Xi Jinping were to attempt to negotiate a deal.
CHINA RETALIATES WITH 34% TARIFFS ON US IMPORTS
China was already expected to see increased tariffs under Trump’s reciprocal tariffs plan. The extra 104% was presumably added because of the country’s refusal to make a deal with the White House.
On April 4, Trump announced a list of tariffs and declared it was “Liberation Day.” After the announcement, countries around the globe had mixed reactions. Some looked to negotiate a better deal with the U.S., while others, like China, wanted to retaliate.
China imposed a 34% reciprocal tariffs on U.S. imports and has vowed “fight to the end” and said it would not give in to tariff threats, which it says is “blackmail,” according to Reuters.
The Trump administration said that China’s non-market policies and practices have given Beijing “global dominance in key manufacturing industries.” The administration also accused China of “decimating U.S. industry.”
Meanwhile, Chinese manufacturers are reportedly warning that profits could drop and are apparently trying to plan for new plants overseas, according to Reuters.
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