China now faces a tariff of up to 245 percent as a result of its retaliatory measures, the White House stated.
"On Day One, President Trump initiated his America First Trade Policy to make America's economy great again," it said in a fact sheet released late Tuesday.
"On Liberation Day, President Trump imposed a 10% tariff on all countries and individualized reciprocal higher tariffs on nations with which the U.S. has the largest trade deficits in order to level the playing field and protect America's national security," it added.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.