Yesterday, President Trump announced via Truth Social that he would be raising duties on China to 125% effective immediately. In the post, he stated “the lack of respect that China has shown to the World’s Markets” as grounds for the decision. This follows China’s announcement earlier this morning that tariffs on U.S. goods entering the country would rise to 84% from the current 34% starting April 10.
At the same time, he announced that he would pause reciprocal tariffs on dozens of non-retaliating countries for 90 days due to their willingness to negotiate rather than retaliate. He said that more than 75 countries had reached out to the U.S. to negotiate a solution and, at Trump’s strong suggestion, had not placed any retaliatory measures on U.S. goods.
To view President Trump’s statement on Truth Social, click here. CCM staff will continue to monitor the situation and keep the membership updated as new information becomes available.
While China is in the top 5 export destinations for U.S. citrus, it is below other trading partners. The U.S. exported $814 million in fresh citrus last year, with 26.9% going to South Korea, 26.4% to Canada, 12.4% to Japan, 10.8% to Mexico, and 7.4% to China/Hong Kong.
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