Analysis: Chinese Exporters Founder Amid Rising U.S. Tariffs

The Trump administration’s new 34% levy on imports from China are a crushing blow for manufacturers still struggling to absorb the cost of existing duties

U.S. President Donald Trump speaks during an event to announce new tariffs at the White House on Wednesday in Washington. Photo: VCG

In its most aggressive trade policy to date, the Trump administration has announced sweeping global tariffs on dozens of countries, including a new 34% duty on China, delivering another blow to Chinese exporters already teetering amid trade protectionism in the West.

On Wednesday, U.S. President Donald Trump announced “reciprocal tariffs” ranging from 10% to 49% on nations including many of America’s key trading partners such as China and the European Union.

The new tariff is set to take effect on China on April 9 and applies across a broad range of goods, surpassing expectations in both scope and severity. It is in addition to the 20% duties introduced by Trump since he returned to the White House on Jan. 20. The average U.S. tariff on imports from China will be around 65%, after taking into account taxes already in place during previous administrations, economists at Nomura Holdings Inc. wrote in a report Thursday.

[Subscribe now and check out for more coverage about Trump tariff. Less than $0.7/week!]