Treasury Secretary confirms 54% tariff on China, Trump views it as economic 'declaration of independence'

U.S. Treasury Secretary: Tariffs on Chinese Goods Reach 54% After New Impositions

U.S. Treasury Secretary Scott Bessen April 2nd said that the new tariffs imposed by Trump on goods imported from China, along with previous taxes, have now reached a total of 54%.

Bessen responded in an interview with CNN when asked whether the announced 34% tariff and previously imposed 20% tariff would add up to a total of 54%, thus representing the final tax rate for China.

Bessen replied: As far as I know, this is indeed the case.

President Trump announced the imposition of reciprocal tariffs on imports from other countries, with a minimum base rate of 10%. However, the specific amount for each country will be separately determined, equivalent to half of the tax amount levied on companies importing American goods. Trump believes that this will become America's "Declaration of Independence" economically, helping to use "countless trillions" of dollars to pay off national debt.

Source: https://www.toutiao.com/article/1828349067645962/

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