Goods imported from China now face a 54% tariff rate — and possibly higher
Goods imported from China will now face a combined total tariff rate of 54%, Treasury Secretary Scott Bessent said Wednesday.
Goods imported from China will now face a combined total tariff rate of 54%, Treasury Secretary Scott Bessent said Wednesday.
Bessent confirmed on Bloomberg Television that all goods imported from China would face a new 34% rate based on White House calculations of what it currently imposes on U.S. exports, plus the existing 20% rate Trump had already imposed against it in the initial weeks of his administration.
Bessent added that while there may be room for discussions with Trump about that rate, he would most likely stand pat for now.
“It’s going to be up to President Trump to see what he wants to do. I think the mindset might be to let things settle for a while,” Bessent said, adding: “I am sure there are going to be a lot of calls. I just don’t know if there’s going to be negotiations.”
The 54% total is close to the 60% or more in tariffs that Trump threatened to impose on China during his 2024 presidential campaign.
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