Donald Trump announced he will impose an additional 100% tariff on goods from China, on top of the 30% tariffs already in effect, starting November 1 or sooner. The threat is a massive escalation after months of a trade truce between the two nations.
Trump’s announcement is tied to Beijing ramping up export controls on its critical rare earths, which are needed to produce many electronics. As a result, Trump appeared to call off a meeting with Chinese President Xi Jinping that was scheduled for later this month in South Korea.
If the item is currently 100 dollars and the tariff tax is 30% that’s 30 dollars. The extra 100% is on the item value, not the value plus original tariff, so it’s 100 dollars.
The total is therefore 130 dollars or 130% on top of the original value.
Lemmings having trouble with basic math per usual.
I would definitely believe if Trump was tariffing tariffs though.