In 2024, China exported three times more to the US than the US did to China, and President Donald Trump’s aim is to get this trade balance down to zero. On ‘Liberation Day’, Wednesday 2 April, Trump announced that Chinese goods coming into the US would now have an additional tariff of 34 per cent imposed on them, added to an extra 20 per cent imposed earlier this year. This means that those goods are now subject to an overall rate of 54 per cent. China has now lodged a complaint at the World Trade Organisation, declaring: ‘This practice of the US is not in line with international trade rules, seriously undermines China’s legitimate rights and interests, and is a typical unilateral bullying practice.’
Can China force the US to change direction? It’s unlikely in the short term.
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