WASHINGTON—As part of a major shift in U.S. trade policy, President Donald Trump has ramped up tariffs on Chinese goods, which he said will revive domestic manufacturing and correct decades of imbalanced trade between the two economies.
At the April 2 “Make America Wealthy Again” event in the White House Rose Garden, Trump unveiled the contours of his global tariff plans, including a 34 percent reciprocal levy on Beijing. The president noted China’s currency manipulation and other non-monetary trade barriers.
This decision effectively raised the total new tariffs on China to 54 percent, including the 20 percent levies previously imposed to pressure Beijing into reducing the flow of fentanyl into the United States….