The USA has officially implemented new customs duties. Consequently, the tax rate applied by the USA to China came into effect at 104 percent. Trump stated that they earned $2 billion a day from tariffs. China, on the other hand, announced that they have sufficient means to combat tariffs.

The USA’s trade tariffs have been officially put into effect. President Donald Trump’s mutual customs duties that exceed 10 percent and will be applied to approximately 60 countries are now in force. Trump had announced the implementation of an additional 50 percent customs duty decision on China. This increased the customs duty rate applied by the USA to China to 104 percent. The White House had announced that if China did not remove its retaliatory tariffs within the given timeframe, a 104 percent customs duty rate would be enforced starting from April 9. China had stated that it would respond in the same proportion to the USA’s 34 percent tariff. Trump had threatened to impose an additional 50 percent tax if China did not withdraw from this retaliation.

CHINA: WE HAVE SUFFICIENT MEANS
Chinese Prime Minister Li Qiang mentioned that they have adequate means to deal with the USA’s customs duties. Stating that they maintain their optimism for the growth figures in 2025, Qiang added that China upholds international trade rules. On the other hand, it was noticeable that China activated its plan to weaken the yuan following the USA’s additional customs duties.

TRUMP: EARNING $2 BILLION
During a program at the White House attended by coal miners, Trump stated, “You’ve heard about customs duties. Thanks to these tariffs, we earn nearly $2 billion every day. Yes, $2 billion per day, and our businesses are doing very well, really well”. Approximately 70 countries have reached out to the president since Trump’s statement, indicating willingness to initiate negotiations. Spokeswoman Karoline Leavitt said, “Countries are competing with each other to correct unfair trade practices and broaden their markets for us”. In the announcement, “The president believes that Xi and China want to make a deal, they just don’t know how to start it. The president also asked me to say that if China reaches out to make a deal, it will be incredibly polite, but will do what is best for the American people”.

PREPARATION FOR ADDITIONAL TAXES ON DRUGS
Trump said that the USA will soon announce a customs duty on drug imports. Speaking at an event organized by the National Republican Congressional Committee, Trump stated that this customs duty would encourage pharmaceutical companies to move their operations to the USA.