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245% China tariff causes market confusion Investing.com -- The markets were hit with more tariff confusion on Wednesday after the White House posted a fact sheet overnight showing that China now faces a tariff of up to 245% on imports of certain goods to the U.S. The document reads, "China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions." The 245% figure is higher than the 145% figure markets have been quoting and pricing in. The White House quickly pointed out the error in people’s assumptions, saying the 245% figure is not new and that any mention that it is a new tariff is “misleading”. The extra 100% tariff on some goods was already in place, the White House confirmed. So, while it is true that some goods from China will see a 245% tariff, it is not a new development. The White House said the figure breaks down like this: 125% reciprocal tariff 20% tariff to address fentanyl crisis Section 301 tariffs on specific goods, between 7.5% and 100% While the market can breathe a sigh of relief that this is not a new tariff, the reaction shows how baffling the latest tariffs on China are. Even veteran market watchers are left with their heads spinning.

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3/9 Confusion reigned as White House adviser Kevin Hassett suggested a 90-day tariff pause for all countries except China, only for the White House to immediately label it "fake news."
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