US reciprocal tariffs officially take effect, China bears the highest rate

The reciprocal tariffs imposed by the Trump administration on dozens of world economies took effect at 0:01 on April 9, US time, or 11:01 Vietnam time.

View of Long Beach cargo port, California (USA)

The reciprocal tariffs imposed by the Trump administration on dozens of world economies took effect at 0:01 on April 9, US time, or 11:01 Vietnam time.

Previously, President Donald Trump announced a 10% base tariff on imported goods into the US from April 5, along with corresponding tariffs on each country that is the US's trading partner from April 9.

Among America’s major trading partners, China faces the highest tariffs. White House press secretary Karoline Leavitt confirmed that a total tariff of 104% will officially apply to Chinese goods starting April 9.

This tax includes the 34% reciprocal tax that President Trump announced on April 2, along with the 20% base tax already applied and the additional 50% penalty that Mr. Trump announced on April 7 after China did not withdraw its 34% retaliatory tax on US goods.

Two US allies, South Korea and Japan, are subject to reciprocal tariffs of 25% and 24%, respectively. The rate for Cambodian goods is 49%, while for Thai goods it is 36%. The reciprocal tariff for the European Union (EU) is 20%.

The White House announced on April 8 that nearly 70 countries have proactively contacted the Trump administration to initiate negotiations to minimize the impact of his new tariff policy.

Among dozens of countries seeking negotiation opportunities, two close US allies, South Korea and Japan, are top priorities for President Trump./.

According to VNA

Source: https://baobinhduong.vn/thue-doi-ung-cua-my-chinh-thuc-co-hieu-luc-trung-quoc-chiu-muc-cao-nhat-a344979.html