An official cited by Bloomberg:
Trump will hold new China tariffs at 30%10% baseline20% fentanylTotal effective tariff rate will be 55%
I don’t understand how the math here works.
Update from a Bloomberg reporter:
I’m told the “55%” he cites here is the status quo – no change from last month’s truce. 10% baseline, 20% fentanyl and what Trump is calling ~25% for all the preexisting 301, MFN, etc tariffs, per an official.
This article was written by Adam Button at www.forexlive.com.