Trump tariffs: 104% rate on China takes effect

President Donald Trump threatened on Monday to raise his tariffs even further on China, the world’s second-largest economy. These tariffs coincide with Trump's latest set of broad tariffs, which kicked in at 12:01 a.m. early Wednesday.

On Tuesday, White House press secretary Karoline Leavitt confirmed that Trump’s threats of even higher tariffs on China would become a reality after midnight, when imports from China are taxed a stunning 104% rate.

"It was a mistake for China to retaliate," Leavitt told reporters. "When America is punched, he punches back harder. That’s why there will be 104% tariffs going into effect tonight at midnight."

She added that Trump believes China "wants to make a deal" but doesn't know how to get that started.

According to Jamieson Greer, the country’s top trade negotiator, Trump has made clear that he does not intend to have any exemptions or exclusions in the tariffs.

The U.S. trade representative also said in testimony before a Senate committee that roughly 50 countries have already been in contact, and he's told them: "If you have a better idea to achieve reciprocity and to get our trade deficit down, we want to talk with you, we want to negotiate with you."

Trump's severe tariffs against virtually all U.S. trading partners continued to impact the stock market on Tuesday.

After roaring to an early jump of 4.1%, which had it on track for its best day in years, the S&P 500 quickly lost all of it within a few hours. It then waffled between modest gains and losses before scratching out a rise of 0.4% in afternoon trading.

The big question remains centered on how long Trump will keep his stiff tariffs on other countries, which would raise prices for U.S. shoppers and slow the economy. If they last a long time, economists and investors expect them to cause a recession. But if Trump lowers them through negotiations relatively quickly, the worst-case scenario can be avoided.

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[danieltam]

China suggest the tariff be raised higher because China ain't paying for the tariffs.

[GRIM-KRIM]

Crazy how Trump basically outlined what's he gonna do when he come to office in 2025 bill and people voted for him and now they act suprised that he's actually doing that

[deplorablecovfefe]

What's going to happen is people will buy the more available, higher quality, more expensive, items. The Chinese stuff falls apart and needs replaced frequently anyway. Sure, the Chinese rugs, socks and pots and pans are cheap, but they only last 3 months and you have to buy again.

[TerrancesWorld]

Why not just raise China’s tariff to 500%

[metaphoria]

I think I hate the spokeswoman the most

[hsqvnkh]

Imagine Americans collectively entering a factory to screw in screws.

[kotnakerry]

34% tariff or 340% tariff, it makes no difference to China.

[algirdasliutkevicius]

Today is gonna be a wonderful day in the stock market 😀

[Chaser-rx]

This is the only channel that has a majority of audience applauding for this lunacy.

[thisguyshorty]

How much tariffs are the penguins going to pay?

[someone]

One of the major reason why us company manufactures everything in china is low labour charge, smoooth manufacturing process, no matter what happens, either US starts to do business in with 104% tariff or bring back the manufacturing in US price will never be lesser or even equal to what it is now

[neoncorolla]

The USA has no raw materials and no factories....I hope you have enough savings to survive till the factories are built.

[M-tp]

I support USA to raise tariff to 2000%. And I support China to ignore the tariffs. It’s a free world, feel free to end all trades with each others.

[jordanimatedstreaming]

The minimum wage at the federal level has been $7.25 since 2009. The real question is why are we trying to keep the price of wages, goods, and services at 2009 levels when the price of assets like gold and real estate continue to grow and reflect that it's not 2009 any more; it's 2025 and trillions of dollars have been printed since 2009.

[stanvanillo]

Tariffs will also cause inflation, it's not only a one-time effect. Some companies will try to absorb tariffs initially but will slowly pass it on to consumers over time.

[Maagma]

It’ll take us 5 years to produce phones in the us. And they will cost $3k

[chadbrunton]

Trump is making the rich richer and the poor poorer. Just look at how much your groceries cost. Have you checked your retirement lately?

[PartyJokesHaHa]

How are these people still ruling the world. It’s hard to believe they can’t Figure this out yet. It’s just economics

[wesdowner]

China says they will fight "to the end." This is going to be a very short fight.

[gurugru]

This is scary. We buy so many goods from China.