Trump Slaps China with 104% Tariff in Escalating Trade War, Signals Major Pharma Duties Ahead
In a dramatic turn of events Trump Slaps China with 104% Tariff in Escalating Trade War, Signals Major Pharma Duties Ahead. A record-breaking 104% tariff on all Chinese imports, effective Wednesday, is officially imposed by President Donald Trump, in a dramatic escalation of the ongoing U.S.-China trade war. The announcement was confirmed just after midnight by the White House. Trump issued a 24-hour ultimatum to China to roll back its retaliatory 34% tariffs on American goods. In less than a week, Trump’s decision on Chinese imports, marks a near 100% increase in tariffs, pushing global markets into a tailspin. Manufacturers and economists alike warn of economic shocks.