But just in case this was missed, you can check out the White House fact sheet here. It says: “China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions.”
Beijing had already responded last week in saying that they will ignore the US on any further escalation in tariffs here. As they mentioned, it already made zero economic sense in conducting trade before last week’s escalation. So, what more with any further hike in tariffs. And even the latest hard data is pointing towards that.
This article was written by Justin Low at www.forexlive.com.