Trump announces tariffs on China starting today!
Date：2025-03-04 09:05:00 View：
According to CNBC reports, at 8:51 am Eastern time on February 27, US President Trump announced that Canada and Mexico will officially impose 25% tariffs on March 4, while China will impose an additional 10% tariff.
This decision means that since Trump took office, the US tariffs on China may reach a cumulative 20%, if added to the 25% tariff imposed by the previous Section 301 investigation (if not exempted), China's goods will face a cumulative 45% tariff.
For steel products, the tariffs on the vast majority of products will reach a staggering 70%, that is, 25% (based on Section 232) +25% (based on Section 301) +10% (the general tariff already imposed on February 4) +10% (the general tariff to be imposed on March 4).
It is worth noting that the United States had suspended the 25 percent across-the-board tariffs on imports from Mexico and Canada for one month on February 3.
However, the Trump administration has expressed confusion about whether the tariffs will go back into effect after this extension expires. However, on Thursday morning, Trump confirmed through his own social media account that the tariffs on Mexico and Canada would go into effect as scheduled on March 4. In addition, he announced that Chinese goods, which already face 10 percent tariffs in the United States, "will also face an additional 10 percent tariff on that day."
Market analysis pointed out that before the tariffs officially take effect, there may be a short-term rush tide, and importers may concentrate shipments, resulting in a surge in the volume of sea freight and a rise in freight rates on the US line, similar to the "grab exports" phenomenon during the Sino-US trade friction in 2018-2019. However, the current global supply chain landscape is significantly different from four years ago, so the actual impact remains to be seen.
Trump's tariff policy has three main features
01. Deeply bundle anti-drug and trade policies, and try to solve drug problems such as fentanyl through tariff pressure.
02. Continue the "America First" strategy by imposing tariffs to raise revenue and reduce the trade deficit.
03. There are uncertainties in policy implementation, such as the sudden reinstatement of tariffs on Canada and Mexico after several suspensions.
Such unilateralism has triggered a strong backlash from the European Union, Mexico, Canada and other economies. The US media are also concerned that tariffs could trigger inflation and pass costs on to US consumers, which could become a worrying "self-harm" move.
We urge our customers to pay close attention to policy changes and stay in close communication with us so that we can provide you with the best quality logistics solutions in a timely manner. At the same time, we will continue to pay attention to policy developments and actively respond to various challenges to ensure that your business can proceed smoothly.