The White House has posted the details of the 104% tariff on China.
Exemptions will be granted for Chinese goods such as rare earth minerals, pharmaceuticals, gold, semiconductors, etc., with a 20% tariff remaining in place; all other goods will be subject to a 104% tariff.
Exceptions exist due to deep reliance of many U.S. industries on Chinese goods. In the rare earth sector, China supplies over 60% of global rare earths and controls about 90% of refining capacity. Over 80% of America's rare earth compounds are imported from China. Its high-tech industries, such as F-35 fighter jet production, and new energy industries, like electric vehicle motor manufacturing, all depend on rare earths. Imposing high tariffs on rare earths would significantly increase costs for related U.S. industries and even pose risks of production halts. In terms of pharmaceuticals, the U.S. relies heavily on China for raw materials for many commonly used drugs. Adding tariffs would drive up drug prices, harm American public interests, and potentially cause shortages in medical resources.
Original article: https://www.toutiao.com/article/1828904195657792/
Disclaimer: The article solely represents the author's viewpoint.