By Gwurld4026 
Trade War Escalates: China Tariffs Hit 104%
The United States is set to implement a 104% tariff on imports from China, effective at midnight, as part of an escalating trade conflict between the two nations. This significant increase from the previously planned 34% tariff comes after China imposed a 34% tariff on U.S. goods in retaliation for earlier U.S. tariffs.
Treasury Secretary Scott Bessent criticized China’s response as a strategic error, highlighting the substantial trade imbalance favoring China. In 2024, U.S. imports from China totaled approximately $438.9 billion, while exports to China were around $143.5 billion. White House Press Secretary Karoline Leavitt stated that the U.S. would escalate tariffs if China did not revoke its increases.
China has vowed to “fight till the end,” labeling the U.S. action as blackmail and refusing to back down. The trade war has led to significant market volatility, with the S&P 500 falling below 5,000, resulting in a $5.8 trillion loss in market value over four days—the worst decline since its inception.
Major companies that rely heavily on manufacturing or assembling in China, such as Apple and Tesla, are expected to be significantly affected by these tariffs. The situation has prompted global leaders to seek negotiations to mitigate the economic impact, with nearly 50 countries approaching U.S. Trade Representative Jamieson Greer to discuss potential exemptions.
For more details, you can watch the following news report: