President Donald Trump said his tariffs may cause “transition problems” but expressed confidence in his plan, after the White House clarified US tariffs on China rose to 145%.
“There’ll be a transition cost, and transition problems, but in the end it’s going to be a beautiful thing,” Trump said Thursday during a Cabinet meeting. “We’re in very good shape.”
The staggering US tariffs on the world’s second largest economy have triggered a tit-for-tat trade war that has unnerved global financial markets.
Trump is imposing a 125% charge designed to both counter America’s trade deficit with China and punish Beijing for retaliating against US import taxes. The number, published in a White House memo Thursday, comes in addition to a 20% levy put into place earlier this year over China’s role in fentanyl trafficking.
Read more: https://www.bloomberg.com/news/articles/2025-04-10/trump-tariffs-on-china-now-at-least-145-as-trade-war-ramps-up?sref=omvmmwIg
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