US Tariffs on Chinese Goods Reach 104 Percent, Impacting Global Prices

Agency: The United States has significantly increased tariffs on Chinese goods, pushing the price of an iPhone in Pakistan to 10 lakhs Pakistani rupees.

As most American brand products, including iPhones, are manufactured in China, the newly imposed tariffs are expected to directly impact the prices of these goods, according to the BBC. US President Donald Trump's policy of imposing high tariffs on imports from around the world is now visibly affecting commodity prices.

The US has now imposed a total of 104 percent import tariff on goods imported from China, the BBC reported. Previously, a 20 percent tariff had been applied, and an additional 50 percent tariff has now been introduced. According to an official White House document, this decision was made in response to China’s actions against the US.

President Trump had earlier threatened to impose the additional 50 percent tariff if China moved forward with rolling back tariffs on American goods on Monday.

This ongoing trade war is expected to have a broader impact on South Asian countries, including India and Pakistan, with the BBC reporting that the prices of foreign technology products in these countries could rise significantly.