America announced to impose 245% tariff in response to China's 125% tariff, know everything

The White House said that more than 75 countries have already contacted to discuss new trade agreements. In view of this, the retaliatory tariff on other countries except China has been postponed for the time being.

According to the US, China has retaliated, so tariffs of up to 245 percent will be imposed on Chinese products imported into the US.

The Trump administration document also mentions that China had banned the export of gallium, germanium, antimony and other key high-tech materials to the US a few months ago, which had the potential for military use. This week, China also suspended the export of six heavy rare earth metals as well as rare earth magnets.

The White House claimed that such action was taken to stop the supply of critical components for automakers, aerospace manufacturers, semiconductor companies and military contractors around the world.