US-China Import Costs Double Overnight: Here's Why

President Donald Trump's so-called reciprocal tariffs are now in place, dealing a thunderous blow to the world economy as he pushes forward efforts to drastically reorder global trade. Trump's latest tariffs push levies imposed on China this year to as high as 104%, along with import taxes on roughly 60 trading partners that run trade surpluses with the US. That comes after a 10% baseline tariff for most US trading partners took effect Saturday. The China tariffs now include previous 20% levies tied to fentanyl trafficking, a 34% "reciprocal" tariff derived from a calculation based on the bilateral trade balance, and an additional 50% duty Trump announced after Beijing said it would respond by taxing US exports to China.

Our Trade Tsar Brendan Murray joins Stephen Carroll and Tom Mackenzie on Bloomberg Radio to discuss.
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