Kathmandu. US President Donald Trump has imposed an additional 50 percent tariff on China. Now the total tariff on China has reached 104 percent. This means that now 104 percent import duties will be imposed on Chinese goods coming to the US.
This has been confirmed in a document released by the White House, the US President’s Office. The White House statement said, ‘This step was taken after China announced retaliation against the United States.’
At the beginning of his second term, Trump imposed a 20 percent tariff on China. Then, when Trump announced that he would impose tariffs on the entire world, an additional 34 percent tariff was imposed on China. Now, after imposing a 50 percent tariff, the total import tariff has reached 104 percent.
Trump had said on Monday that if China does not withdraw its decision to impose import tariffs on American goods, he will impose an additional 50 percent tariff on China. In response to Trump’s statement, China’s Ministry of Commerce said that it will not accept American ‘blackmail’ and will fight against it to the end.
Meanwhile, Trump, speaking at an event in Washington, DC, said that the US will impose taxes on medicines. He said, “We are taking the necessary steps. When we impose tariffs on medicines, foreign companies will return to producing medicines in the United States. Because America is the biggest market.’
Trump has claimed that this will put pressure on pharmaceutical companies. Due to which, those companies will move their business from countries like China and set up factories in the US. So that they can sell drugs in the US.
Trump had exempted drugs when announcing tariffs last week. However, Trump has already said that he will impose a separate tariff on drugs.
Most of the world’s drugs are produced in China, India and Europe. Some experts have warned that if customs duties are imposed on the materials used in drugs, the price of drugs for the general public could increase. –Agency
