The tariff rates against China are still historically high as Trump tells a new business deal

President Donald Trump Wednesday It took the social truth to promote a new initial commercial agreement with China, although this leaves the tariff rate against Beijing on high levels historically.

“We get a total of 55 % of the customs tariff, China gets 10 %,” Trump Spread the social truth of social readingWith the addition of, “President Xi (Jinping) and I will work closely to open China to American trade. This will be a great victory for both countries !!! “

Under this new arrangement, if it is, American tariff rate against China It will be determined by 55 %, which is actually an increase of 30 % when the two countries announced that the truce in May is at the beginning of their negotiations. This came after multiple rounds of escalation that witnessed import taxes against China along the way to 145 %. In addition, Trump said that the United States will get rare Earth minerals from China – including that vitality to produce technology such as smartphones – while Chinese students in return will be allowed to attend American colleges and universities.

During his first term, Trump’s trade war with China witnessed that the average tariff against China increased to about 20 %, which did not change significantly during the chairmanship of Joe Biden. Looking at the traditional import of China, the increase in customs tariffs on the goods from there will be much larger Impact on the cost of goods From definitions against other countries.

It is not clear at this stage when this is 55 %. The average of 30 % was supposed to remain valid until August, while negotiations continued. It is also not clear whether this rate will affect all imports from China as it is, or if some will be avoided.