Trump Raises Tariffs on China to 104%
The US is raising tariffs on China by another 50% to 104%, the White House announced today (Tuesday). The new tariffs are set to take effect at midnight tonight Eastern Standard Time.
The move follows the expiration of US President Donald Trump’s ultimatum to the Chinese government to withdraw the 34% tariffs they imposed on the US in retaliation for the previous tariffs the Trump Administration imposed.
Last week, Trump introduced new tariffs on imports, imposing a minimum 10% duty on nearly all goods entering the United States. Additionally, certain countries with significant trade deficits with the US are facing even steeper tariffs.
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