Trump tariffs live updates: US has moved forward with 104% China tariffs, other 'reciprocal' duties go into effect

Key Points

  • The Trump administration has imposed a 104% tariff on Chinese goods, escalating trade tensions.
  • China vows to "fight to the end" in response to the new tariffs.
  • US stocks experienced significant volatility, with major indexes ending in the red.
  • Negotiations with Japan and South Korea have reportedly begun, while other countries are still deciding their response.
  • The tariffs are expected to increase costs for American families by an average of $3,800 this year.

Summary

The Trump administration has escalated its trade war with China by imposing a 104% tariff on Chinese goods, effective from April 9, 2025. This move comes in response to China's retaliatory tariffs, leading to a sharp deterioration in US-China trade relations. The White House has justified the tariffs as a necessary response to China's trade practices, while China has vowed to fight back. The stock market has been significantly affected, with major indexes experiencing a downturn after initial optimism about negotiations. President Trump has indicated that several countries, including Japan and South Korea, are keen to negotiate trade deals, although the response from other nations remains uncertain. The new tariffs are expected to have a broad economic impact, potentially increasing costs for American families by an estimated $3,800 annually. Amidst this, companies are adjusting by raising prices, and there are signs of anti-American sentiment affecting US brands internationally.

yahoo
April 9, 2025
Stocks
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