China vows to fight ’till the end’ after Trump’s latest tariffs threat

Natalie Sherman
New York business reporter

Image source, Getty Images

When President Trump entered the White House in January, about two thirds of goods sent from China to the US were already facing tariffs, as a result of actions he took during his first term.

His moves then hit items like solar panels, washing machines and other kinds of machinery. But many key consumer products, like iPhones, toys, and clothing, had been spared.

That has not been true this time around.

Starting in February, Trump put in place a new, 10% levy on all goods from the country, which he increased to 20% in March. It has left businesses like the toymakers I spoke to in March reeling.

And that was before last week, when he said he would raise the tariff to another 34 percentage points.

Some key strategic items, such as pharmaceuticals, semiconductors and lumber, were spared from the tariffs that action.

But the announcement means the vast majority of imports from China – which accounted for more than $400bn in trade last year, making it America’s top source of imports after the European Union and Mexico – are facing a tariff rate of at least 54% – which Trump has now threatened to raise again by another 50 percentage points.