Trump's SHOCKING 104% Tariff on China: Trade War ERUPTS!

2025-04-09 06:03:04.929

The US government implemented sweeping reciprocal tariffs, impacting approximately 90 countries. A staggering 104% levy was imposed on Chinese imports, in response to China's 34% retaliatory tariffs on US goods. This followed Trump's initial 34% import fee and a previous 20% duty, totaling a 104% tariff on Chinese imports. The White House defended the move, stating that the president "punches back harder" when America is challenged. Other countries also faced significant tariffs: 17% (Israel), 20% (EU), 24% (Japan), and 25% (South Korea). These rates, calculated by the Council of Economic Advisers, are based on US trade deficits. The administration reported significant interest from foreign leaders seeking to negotiate lower rates. Trump claimed daily tariff revenue of almost $2 billion and expressed openness to "tailored deals." However, the tariffs have negatively impacted Wall Street, with the S&P 500 experiencing its largest two-day loss since March 2020 and the Nasdaq entering a bear market. The tariffs will remain in effect until the president deems the trade deficit threat resolved.