President Donald Trump said Friday that his administration’s tariff policy is succeeding, after China’s announcement that it is responding to his moves by raising its tariffs on American goods to 125%.
“We are doing really well on our TARIFF POLICY,” he posted on his Truth Social page, without adding further explanations. “Very exciting for America, and the World!!! It is moving along quickly.”
Trump administration officials on Thursday clarified that China is facing a minimum tariff of 145% on all exports to the U.S., adding in an earlier-announced tariff of 20% to the 125% figure announced this week.
China, while announcing its higher tariff rates, called Trump’s tariff policies a “joke,” reported The New York Times.
China’s new tariffs, raising the tax on U.S. imports from 84%, are to go into effect on Saturday.
China also issued new regulations Friday to subject U.S.-made semiconductors to higher tariffs, putting pressure on companies such as Intel and Global Foundries to move manufacturing to keep their access to China, where most of the world’s electronics are made.
Jamieson Greer, Trump’s top trade official, told Fox News on Friday that China’s retaliation was “not terribly surprising but certainly unfortunate.”
Greer also acknowledged that there “may be an adjustment” in pricing when asked if the back-and-forth could increase prices significantly for U.S. consumers.
“While there may be an adjustment, I think we’re going to be on a good path, and I don’t think we’re going to see that level of increase in household expenses,” he said.
Meanwhile, talks on trade between China and European countries on trade are taking place, The Times reported.
Spain Prime Minister Pedro Sanchez and Chinese President Xi Jinping met in Beijing on Friday, with Xi telling Sanchez that he favors closer ties between China and the European Union to “jointly safeguard the trend of economic globalization and the international trade environment, and jointly oppose unilateral acts of bullying,” according to China’s Xinhua News Agency.
Sanchez’s visit has resulted in a deal for China to open the market to Spanish pork imports, after it put a levy on pork imports from the U.S. to retaliate for Trump’s first wave of tariffs.
Sanchez. however, also warned against risking a trade war between the U.S. and China, saying the “world needs” the two superpowers to negotiate.
© 2025 Newsmax. All rights reserved.
Comments