Despite global backlash and lengthy negotiations, the Trump Administration has adhered to its tariff schedule. The President, remaining steadfast, implemented the reciprocal levies at midnight.
China, the hardest hit, faced an additional tariff that raised the country’s total to 104%. Just hours before the tariffs took effect, Trump remarked that China “left us for dead, frankly.”
In retaliation today, China has imposed a new tariff of 84% on U.S. goods, aligning with the additional tariff applied to the nation overnight.
Speaking to the media today, Chinese Foreign Ministry spokesperson Lin Jian said, “The United States is still imposing arbitrary tariffs on China and relentlessly applying extreme pressure. China firmly opposes and will never accept such domineering and bullying behavior… If the US disregards the interests of both countries and the international community and insists on waging a tariff war and trade war, China will fight to the end.”
Trump posted on Truth Social Tuesday, stating: “China also wants to make a deal badly, but they don’t know how to get it started.”
Other Asian markets also received steep tariffs, including South Korea (25%), Japan (24%), Thailand (36%), and Vietnam (46%).
The 10% tariff on Australia has ignited outrage from both sides of Congress, as trade experts challenge the Administration about why a nation with a free trade agreement and a trade surplus with the U.S. merits a “reciprocal” tariff.
Despite Elon Musk’s plea to keep the EU in a zone of “zero tariffs,” the EU was also hit with a 20% reciprocal tariff at midnight.
By CEO NA Editorial Staff
