U.S. President Donald Trump signed an executive order on the 8th (local time) imposing a 84% mutual tariff on China. This is an increase of 50 percentage points from the 34% announced on the 2nd. This move is seen as a strong response to China's counter-tariff retaliation against the U.S. mutual tariff. As a result, China faces a total 'tariff bomb' of 104%, in addition to the tariffs that were previously raised by 20% each in March.
Earlier, the Chinese Tariff Commission decided to impose a 34% 'retaliatory tariff' on U.S. products imported into China starting on the 10th, and the White House referenced this fact in the executive order released that day, noting, "We are taking measures to increase tariffs on China in response to this retaliation."
President Trump noted, "This adjustment is necessary and appropriate to effectively address threats to the national security and economy of the United States," and adjusted the mutual tariff rate imposed on China from 34% to 84%.
Previously, China announced its plan to impose a 34% tariff on the U.S. It also designated seven rare minerals essential for the production of advanced products, such as semiconductor materials, as items subject to export controls.
In response, the White House stated that "retaliatory measures are a mistake" and warned that "the U.S. will hit back harder if hit." Treasury Secretary Scott Bentsen also noted that "the volume of what we export to them is only one-fifth of what they export to us," saying that "China imposing tariffs will cost us virtually nothing" and indicated a strong response.
However, Trump attended an event hosted by the National Republican Congressional Committee (NRCC) that day, suggesting the possibility of negotiations by saying, "At some point, I think China will negotiate tariffs."