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President Donald Trump Wednesday Caught at Truth Social to praise a new provisional trade agreement with China, although the one who leaves the rate of prices against Beijing at historically high levels.
“We get a total of 55%tariffs, China gets 10%”, Publish at Truth Read SocialWith a later article adding: “” President XI [Jinping] And I will work in close collaboration to open China to American trade. It would be a big victory for the two countries !!! “”
In this new arrangement, if it is, the American rate rate against China will be set at 55%, which in fact represents an increase compared to the rate of 30% when the two countries declared a truce in May at the start of their negotiations. This came after several climbing cycles that saw taxes on importation against China made a 145%increase. In addition, Trump has said that the United States will have access to minerals of rare land from China – including those essential to technology production such as smartphones – while in return, Chinese students will be allowed to attend American colleges and universities.
During his first mandate, Trump’s trade war with China saw the average rate rate against China increased to around 20%, which was largely unchanged during the presidency of Joe Biden. Given how much the United States has traditionally imported from China, increased prices on goods from there Impact on the cost of goods than prices against other countries.
It is not clear at this stage when this rate of 55% would take effect. The previous rate of 30% was to remain in force until August while negotiations continued. It is also not known whether this rate will affect all imports from China in the same way, or if some will be spared.
