Washington Threatens to Raise Tariffs on Chinese Goods to 245 Percent

Washington: The administration of US President Donald Trump has threatened to impose tariffs of up to 245% on Chinese goods. This move is in response to what the administration describes as China's retaliatory measures, which include raising tariffs and suspending metal exports. According to Yemen News Agency, in a parallel strategy, President Trump has signed orders to increase tariffs on steel and aluminum to 25%. Additionally, he has mandated an investigation into the impact of metal imports on US national security. This approach marks a significant escalation in the ongoing trade tensions between the two global economic powerhouses. The White House has reported that over 75 countries have reached out to the administration to discuss new trade agreements, with several imminent announcements expected. Vice President J.D. Vance has pointed out that the UK is a strong candidate for a special trade agreement, emphasizing President Trump's close ties with the UK. In a related move, the administration had prev iously announced a 90-day suspension of global tariffs, which has contributed to a recovery in the financial markets.