US White House official, on the 55% tariff level on China, clarifies that this is not a new escalation in tariffs, via CNBC's Cassella
- Additional tariffs under the current Trump term remains at 30% (agreed post Geneva), in addition to the 25% in place before this term.
Analysis details (13:54)
- In the context of, and clarification to, Trump's post "OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME." adds "WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!"
- 30% is formed from the 10% baseline and 20% fentanyl measure. Measures from before the current term account for the remaining 25%, leading to an effective rate of 55%. Section 232 appears to be separate from this calculation, as the measure was imposed before April 2nd and thus not subject to the Geneva deal/framework; as things stand at last.
11 Jun 2025 - 13:50- ForexGeopolitical- Source: X
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