U.S. Increases Tariffs on Chinese Goods to 104% Amid Rising Trade Tensions

U.S. Increases Tariffs on Chinese Goods to 104% Amid Rising Trade Tensions

The Trump administration has enacted a significant escalation in the ongoing trade war with China, imposing a 104% tariff on Chinese imports. 

This move combines a new 50% tariff with existing reciprocal tariffs of 34%. The new tariffs, which came into effect early Wednesday, also affected 184 other countries that trade with the U.S.

The decision follows rising tensions between the U.S. and China, with Beijing vowing to "fight to the end" in response to President Trump's announcement earlier this week. White House press secretary Karoline Leavitt expressed that China's retaliation was a mistake.

The markets reacted negatively to the heightened uncertainty, with U.S. stocks experiencing a sharp decline after previously showing optimism over potential negotiations. Despite the escalating trade standoff, President Trump remains confident that countries will return to the negotiating table. He reiterated that the U.S. will pursue "fair and good deals," and if negotiations fail, they will cut ties. Talks are reportedly underway with Japan and South Korea to address trade concerns