White House: The highest possible tariff rate of up to 245% is not a new increase, but the total sum of tariffs faced by specific goods.
According to reports by Fox News Channel and other media outlets, the White House clarified that the "Fact Sheet" released on Tuesday stated that "due to its actions, China now faces tariffs of up to 245% on imports into the United States," which is not a new increase or a response to Beijing's concerns and requests, such as the Chinese side's request for the Trump administration to designate a lead negotiator for talks, as reported by Bloomberg.
White House officials told Fox News Channel that some Chinese goods face a "reciprocal tariff of 125%" plus a 20% fentanyl tax, along with 301 tariff rates for specific goods... totaling up to a maximum tariff rate of 245%.
CNBC reporter Casella also pointed out, "Don't rush to read today's news about China's tariffs being raised to 245% - there has been no policy change. The 145% tariffs imposed by Trump on Chinese goods were actually added to existing tariffs that were already in place before he took office on January 20. Some goods' tariffs have reached 100%."
Casella added, "Only a very small number of specific goods have such high tariffs, such as medical syringes. Previously, tariffs on Chinese goods varied from 7.5% to 100% depending on the category. Adding the new 145%, you can accurately say, as the White House mentioned yesterday, that tariffs are now "up to 245%." Casella said that a White House official confirmed her interpretation was correct.
On Wednesday, looking at the White House's "Fact Sheet," it reads: "Due to its actions, China now faces tariffs of up to 245% on imports into the United States. This includes a 125% reciprocal tariff, a 20% tariff to address the fentanyl crisis, and 7.5% to 100% tariffs on specific goods under Section 301."
Original article: https://www.toutiao.com/article/1829576007305292/
Disclaimer: The article only represents the views of the author.