April 17, 2025

Month: September 2022

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US Raises Tariffs On China To 245% As Trade War Escalates This time, China now faces tariffs of 245 percent on imports into the United States, "as a result of its retaliatory actions," the White House was quoted as saying. The trade war between China and the United States has taken a new dimension. This time, China now faces tariffs of 245 percent on imports into the United States, "as a result of its retaliatory actions," the White House was quoted as saying. This development also comes as President Donald Trump authorised an investigation into "national security risks posed by the US' reliance on imported, processed critical minerals and derived products," which includes cobalt, lithium, nickel, and rare-earth metals used in the manufacture of smartphones, batteries for electric vehicles, and military equipment. Trump, meanwhile, has said China needs to make the first move in any negotiation. "The ball is in China's court. China needs to make a deal with us. We don't have to make a deal with them," the President said, a day after accusing Beijing of reneging on a major Boeing deal. SaharaReporters earlier noted that, in response to the United States' earlier decision to impose a 145 percent tariff on Chinese goods, China has ordered its airlines not to take any further deliveries of Boeing jets. This is according to Bloomberg News on Tuesday, citing people familiar with the matter. Beijing has also instructed Chinese carriers to halt purchases of aircraft-related equipment and parts from U.S. companies, the Bloomberg report said. The Chinese government is reportedly considering ways to assist airlines leasing Boeing jets who are facing increased costs, sources told Bloomberg News. It would be recalled that U.S. President Donald Trump announced a new levy of 125 percent on goods from China. The White House later clarified that the rate is in addition to an existing 20 percent tariff, bringing the total to 145 percent. The original 20 percent tariff had been imposed on imports of Chinese goods in response to what Trump described as Beijing’s role in the production and supply of fentanyl into the U.S. Earlier, in a statement published on its customs department website and seen by SaharaReporters, Chinese officials accused the United States of violating international trade norms. "On April 10, 2025, the US government announced that the 'reciprocal tariff' on Chinese goods exported to the US would be further increased to 125%. The US's imposition of abnormally high tariffs on China seriously violates international economic and trade rules, basic economic laws and common sense, and is completely a unilateral bullying and coercion." "In accordance with the Tariff Law of the People's Republic of China, the Customs Law of the People's Republic of China, the Foreign Trade Law of the People's Republic of China and other laws and regulations and the basic principles of international law, and with the approval of the State Council, starting from April 12, 2025, the tariff increase measures on imported goods originating from the United States will be adjusted." The Chinese resolution read as follows: "Announcement of the State Council Tariff Commission on Adjusting the Tariff Measures on Imports Originating in the United States" (Tax Commission Announcement No. 5 of 2025): from 84% to 125%. Given that at the current tariff level, there is no market acceptance for US goods exported to China. If the US continues to impose tariffs on Chinese goods exported to the US, China will ignore it." "Other matters shall be implemented in accordance with the 'Announcement of the Tariff Commission of the State Council on the Imposition of Additional Tariffs on Imported Goods Originating in the United States' (Tax Commission Announcement No. 4 of 2025)," the statement read.

US Raises Tariffs On China To 245% As Trade War Escalates

April 16, 2025
Hon. Abdulwaheed Gbenga Yusuf JK Celebrates Asiwaju of Offaland, Alhaji Tajudeen Owoyemi On His 69th Birthday

Hon. Abdulwaheed Gbenga Yusuf JK Celebrates Asiwaju of Offaland, Alhaji Tajudeen Owoyemi On His 69th Birthday

April 16, 2025
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Hon. Seun Ogunniyi Felicitates Asiwaju of Offaland, Chief Tajudeen Salahudeen Owoyemi, on Birthday Anniversary

April 16, 2025
Birthday Felicitations: Hon. Moshood Adeleke Celebrates HRM Oba Adebowale Adesoye Jimoh, the Elerin of Erin-Ile

Birthday Felicitations: Hon. Moshood Adeleke Celebrates HRM Oba Adebowale Adesoye Jimoh, the Elerin of Erin-Ile

April 16, 2025
Kamaldeen Adekilekun Defies Adeleke, Eyes Living Trust Bank Chairmanship

Kamaldeen Adekilekun Defies Adeleke, Eyes Living Trust Bank Chairmanship

April 16, 2025
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C&S Church Calls For National Prayers Amid Insecurity 

April 16, 2025