Now 125% tariff will be imposed on China, Donald Trump has given relief to India

The trade war between the US and China is escalating. US President Donald Trump has lashed out at China. The US has announced a 90-day moratorium on tariffs on all countries except China, but has not given any relief to China.

In response to China’s retaliatory tariffs, Trump has increased the tariff on products coming from China from 104 to 125 percent. The increased rates have been implemented with immediate effect. Trump made the announcement on his official Twitter account

“Now America and the other countries will not be able to rob China.”

President Trump said Wednesday that he would hold off on his tariffs for most countries for the next 90 days, but that doesn’t include China. It will instead raise tariffs on its exports to 125 per cent, as Beijing launches a new round of retaliatory measures. For countries that are not retaliating against the US, Trump has announced to keep the tariff at only 10 per cent for the next 90 days.

Amazon has canceled the order

“This has been Trump’s strategy from the beginning, you could even say he’s put China in a bad position,” US Treasury Secretary Scott Besant said. The effect of this order of President Donald Trump is also beginning to be seen. American multinational technology company Amazon (Amazon) has canceled some inventory orders from China after the tariff was 125%.

Surge in stock market

After the 90-day pause in tariffs, the US stock market has seen a surge. The U.S. stock exchange Nasdaq jumped 10%. This is the biggest increase since 2008. The S & P 500 rose 7%.

• Tesla: +15%
• NVIDIA: +13%
• Apple: +11%
• Meta: +9%
• Amazon: +8%
• Microsoft: +7.6%
• Google: +6.5%

China retaliated with tariffs

On Tuesday, Donald Trump imposed a 104 percent tariff on Chinese goods. In response, China imposed 84 per cent tariffs on US products. The increased tariff will come into effect from April 10. Earlier, Trump had announced on April 2 that 34 per cent additional tariffs would be imposed on China. Earlier, the US used to impose 10 per cent tariffs on China. After this announcement, a total of 44 percent tariff has been applied to China.

Following Trump’s announcement, the White House issued a statement saying it would impose an additional 10 per cent non-reciprocal tariff on the entire world. With this, the total tariff on China has become 54 percent. In response to the US, China has also announced to impose 34 per cent tariffs on American products.

After China’s retaliatory action, Trump retaliated by imposing 50 per cent additional tariffs on China, which increased to 104 per cent. In response to the 104 per cent tariffs imposed by the US, China has announced to impose 84 per cent tariffs on American products. Now the US has increased the tariff on China to 125 percent.