President Donald Trump's tariffs on imports from China are set to rise overnight to 104% as Beijing refuses to withdraw its retaliatory tariffs on U.S. exports, the White House said Tuesday.
"It was a mistake for China to retaliate. When America is punched, (the president) punches back harder," White House press secretary Karoline Leavitt said at a briefing with reporters. "That's why there will be 104% tariffs going into effect on China tonight at midnight."
Chinese goods were already set to be slapped with 54% tariffs as part of Trump's wave of added duties on dozens of nations set to go into effect Wednesday. The figure was the combination of a 20% previously imposed tariff and a 34% additional tariff on Chinese goods as retaliation for the U.S.'s large trade deficit with the the rival economic power.
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