Goods imported from China will now face a combined total tariffs rate of 54%, Treasury Secretary Scott Bessent said Wednesday.
Appearing on Bloomberg Television, Bessent confirmed that all goods imported from China would face a new 34% rate based on White House calculations of what it currently imposes on U.S. exports, plus the existing 20% rate Trump had already imposed against it in the initial weeks of his administration.
Bessent added that while there may be room for discussions with Trump about that rate, he would likely stand pat for now.
Posted by John3262005
4 Comments
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50 years from now, kids are going to be reading shit like “The Gyatts of Wrath” after Gen Z writes about experiencing this calamity
It only being marginally higher than Vietnam is the funniest part
Bessent was the one saying that they will only use tariffs as a negotiating tactic, which is why Wall Street was happy that he was appointed. Now that this is clearly not the case, I don’t think this means anything.