The White House has said that its tariff rate on most Chinese imports is 145%.
US President Donald Trump announced a new levy of 125% on goods from China on Wednesday but the White House has since confirmed that rate is on top of an already existing levy of 20%.
Speaking at a cabinet meeting, Trump defended his tariff policies, which have rattled global markets, saying the US is in “very good shape.”
“We’re very, very happy with the way the country’s running. We’re trying to get the world to treat us fairly,” Trump said.
Our journalists are working on this story and will update it as soon as more information becomes available.
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