The White House has confirmed that a new 104% import tariff on Chinese goods will take effect at midnight, escalating tensions in the ongoing trade standoff between the United States and China.
White House Press Secretary Karoline Leavitt announced during a press briefing on Tuesday, citing China’s refusal to withdraw its retaliatory tariffs on U.S. exports.
Leavitt said, “It was a mistake for China to retaliate. When America is punched, [the president] punches back harder.
“That is why there will be 104% tariffs going into effect on China tonight at midnight.”
Recall that Chinese goods were already set to be slapped with 54% tariffs as part of Trump’s wave of added duties set to go into effect on Wednesday.
Last week, Trump announced a minimum 10% tariff on all imports, but he had already set a 20% tariff for imports from China and a 34% additional tariff on Chinese goods as retaliation for the United States’ large trade deficit with the the rival economic power.
But on Monday, Trump placed an additional 50% tariff on Chinese goods in response to 34% retaliatory tariffs China imposed on the US.