WASHINGTON — President Donald Trump announced on April 8 his plan to raise tariffs to 104% for Chinese imports as trade negotiations with countries change daily.
Trump stated he would impose an additional 50% tariff if the nation did not withdraw its 34% counter-tariff. On April 9, China moved its total tariff rate on US imports to 84%.
Following Trump’s initial tariff proposal on April 2, China retaliated with a 34% levy on US goods, on top of the 10% to 15% it had on select products earlier this year.
During its recent monthly report, the US Meat Export Federation (USMEF) stated China’s tariff rate on US pork would increase to 81% if conditions stay the same. The rate for US beef would be a 56% tariff to import into China.
“USMEF is hopeful that instead of retaliating, other trading partners will choose to lower trade barriers for US exports,” said Dan Halstrom, president of USMEF. “This would certainly ease the concerns of importers and reduce volatility in the global markets.”