China strikes back with 125% tariffs on U.S. goods as trade war intensifies [View all]

https://www.cnbc.com/2025/04/11/china-strikes-back-with-125percent-tariffs-on-us-goods-starting-april-12.html

China strikes back with 125% tariffs on U.S. goods as trade war intensifies
Published Fri, Apr 11 2025 4:12 AM EDT

China on Friday retaliated against U.S. President Donald Trump’s reciprocal tariffs by raising its levies on U.S. goods to 125% from 84%, the Chinese finance ministry said.

“Even if the U.S. continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of world economy,” the ministry said in a statement, according to a CNBC translation.

“With tariff rates at the current level, there is no longer a market for U.S. goods imported into China,” the statement noted, adding that “if the U.S. government continues to increase tariffs on China, Beijing will ignore.”

The Trump administration confirmed to CNBC on Thursday that the U.S. tariff rate on Chinese imports now effectively totals 145%. Trump’s latest executive order boosted reciprocal tariffs on Beijing to 125%, stacked on top of a combined 20% fentanyl-related tariff imposed in February and March.

Hopes for a U.S.-China deal to resolve trade tensions have faded fast as Beijing has been hitting back in the last week with tit-for-tat duties on American goods and wide-ranging restrictions on U.S. businesses.

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https://www.cnbc.com/2025/04/11/apple-left-without-life-raft-amid-trumps-china-trade-war-analysts-.html

Apple is left without a life raft as Trump’s China trade war intensifies, analysts warn
Published Fri, Apr 11 2025 2:17 AM EDT

Though U.S. President Donald Trump’s 90-day pause on many of his “reciprocal tariffs” has given some firms and investors respite, America’s largest company, Apple, hasn’t been so lucky.

The Cupertino-based tech giant is heavily reliant on supply chains in China, which has seen its levies only continue to ramp up, with the U.S.′ cumulative tariff rate on Chinese goods now standing at 145%.

“Apple could be set back many years by these tariffs,” Dan Ives, global head of technology research at Wedbush Securities, told CNBC, adding that the company had “had their boat flipped over in the ocean with no life rafts.”

The smartphone maker has been diversifying its supply chain from China for years, but out of the 77 million iPhones it shipped to the U.S. last year, nearly 80% came from China, according to data from Omdia.

The tech-focused research firm estimates that under current tariffs, Apple could be forced to increase its prices on phones sold to the U.S. from China by around 85% in order to maintain its margins.

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