Trump’s sweeping global tariffs, including 104% against China, comes into force

Washington DC: President Donald Trump’s extensive tariffs targeting nearly all U.S. trading partners officially came into effect today. One of the most notable measures includes a significant 104% tariff on Chinese goods. Trump characterized these tariffs as “reciprocal,” aiming to address what he described as a long-standing issue of unfair trade practices spanning over three decades. He argued that the United States has been exploited due to persistent trade imbalances.

According to Trump, the tariffs are intended to pressure other nations into negotiating more favorable trade agreements with the U.S., which he believes will ultimately strengthen the American economy. However, the announcement has already triggered a sharp decline in the stock market.

US imposes 104 percent tariff on China

Trump administration officials argue that certain countries impose higher tariffs on American products, enforce non-tariff trade barriers, or take actions that conflict with U.S. economic interests.

China now faces the steepest tariff of 104%, which is a cumulative rate consisting of a previously imposed 20%, an additional 34% announced last week, and a fresh 50% hike added recently after China refused to lift its retaliatory duties on U.S. goods.

Other countries hit with significant tariffs include Japan at 24% and Cambodia at 49%.

Under Trump's trade policy,  Chinese imports initially faced a 34% tariff, which was added on top of an existing 20%, raising the total to 54%. However, following China’s announcement of retaliatory tariffs, the White House responded by increasing the rate by an additional 50%, resulting in a combined tariff of 104% on Chinese goods.

The first phase of this tariff plan — a baseline 10% duty on imports from nearly all of the U.S.’s trading partners — was implemented early Saturday.

These new tariffs far exceed the 10% standard import tariff that came into effect on April 5 for most nations trading with the U.S.