White House Official has confirmed that US will enforce 104% tariff on China beginning on Wednesday April 8 according to reuters. This create a major tension between US and China as the Trump administration aims to address what it perceives as unfair trade prctice.
On Monday, the President warned that even higher tariffs could follow if China does not withdraw its newly introduced 34 per cent counter-tariffs.
He also announced the suspension of all trade negotiations with China, saying the US would instead prioritise deals with other nations.
China’s response to Trump’s tariff threat
“The US threat to escalate tariffs against China is a mistake on top of a mistake, which once again exposes the US’s blackmailing nature,” China’s commerce ministry said in a statement.