The ongoing trade war that was kicked off by the US tariffs is a confusing time even for the rest of the world not directly affected by them. In a recent executive order by President Trump, the US may be hitting China with tariffs going as high as 245%.
That being the case, this new tariff applies to a very specific industry, according to a breakdown by The New York Times. According to the report, this new rate applies specifically to medical syringes and needles, which was hit with a 100% tariff rate last September, before the recent 145% tariff, broken down as 20% “fentanyl” tariff and 125% “reciprocal” tariff, was piled on top.
For context, the US Drug Enforcement Administration (DEA) has claimed back in 2020 that “China remains the primary source of fentanyl and fentanyl related substances trafficked” into the US. The country has also deemed the substance a major part of its drug problem.
While we’re on the subject, China retaliated against the 145% US tariff by imposing its own 125%, as well as restricting the export of rare earth metals and magnets. The US recognises its reliance on these raw materials that are “essential for national security and economic resilience”, even if it comes from an “adversarial” nation.
(Source: White House, NYT, NIDA, DEA [PDF])
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