Trump Presses On with 104% Tariffs on China, Escalating Trade War

(The Post News)- As the trade battle between the biggest economies in the world intensifies, U.S. President Donald Trump has announced a fresh wave of tariffs, raising rates on Chinese imports to above 100%. Trump’s government has proceeded with its plans after China refused to remove retaliatory tariffs, escalating the already tense trade dispute that has rocked international markets.

The new tariffs, which take effect on Wednesday, represent a dramatic escalation of Washington’s strategy to challenge China on trade. Trump has long insisted that the tariffs will force American manufacturers to return to U.S. soil, reviving the nation’s once-dominant industrial base. Speaking on Tuesday, Trump emphasized that the U.S. was “taking in almost $2 billion a day” from the levies.

The new tariff structure is a blow to Chinese imports, with cumulative duties now totaling 104%. The first round of tariffs began under Trump’s first term, and the latest increase comes after China imposed its own retaliatory tariffs. This back-and-forth has escalated tensions, with Beijing vowing to continue the fight.

China’s economy has been rocked by the sanctions. In reaction, Beijing has allowed the yuan to sink, sending it to its lowest point versus the dollar in years. Economic researchers caution of long-term repercussions for the global trade ecosystem, despite the Chinese central bank’s efforts to mitigate the negative effects.

Markets have been quick to react. Global equity indices, including those in Hong Kong and Japan, saw sharp declines. The South Korean won fell to its lowest value against the dollar since 2009. Even oil prices were affected, with West Texas Intermediate crude dipping below $60 for the first time in two years.

Concerns about the growing trade war have been raised by the European Union, and Ursula von der Leyen has urged both sides to pursue stability. De-escalation was also demanded by French President Emmanuel Macron, who also threatened retaliation from the EU if needed. Trump responded by restating that, despite growing tensions with Europe, the United States was amenable to customized trade agreements with allies like South Korea and Japan.

Business executives are expressing worry about the tariffs’ long-term effects at home. Elon Musk, a well-known Trump supporter and tech tycoon, attacked White House trade advisor Peter Navarro over remarks Navarro made against Musk’s Tesla company. Musk has already voiced his disapproval of Trump’s trade policy, but his remarks underscore the increasing conflict over the plan among Trump’s own inner circle.

Amid rising tensions with the United States, China’s top officials are scheduled to meet as early as Wednesday to discuss policies aimed at stabilizing capital markets and bolstering the country’s economy. Senior officials from the State Council and other government agencies will be present at this meeting, which is the first that the public has heard of since U.S. President Trump imposed reciprocal tariffs. Strategies to boost domestic demand and assist China’s capital markets will be the main focus.