US imposes 104% tariff on Chinese imports amid global markets meltdown

The United States has imposed a combined tariff of 104% on Chinese goods, escalating the trade war between the world’s two largest economies. This move comes in response to China’s retaliatory tariffs. The White House claims China is seeking a trade deal but must first reduce tariffs on American goods. The new tariffs on Beijing will come into effect from April 9th. China has firmly opposed American tariffs and vowed to announce countermeasures, asserting it will not be intimidated by ‘blackmail or bullying’.