Donald Trump’s tariffs on numerous economies took effect on Wednesday morning, including a 104 per cent levy on Chinese goods, as the US president introduced a fresh round of tariffs targeting several trade partners.
Import rates to the US from exporters such as the European Union and Japan increased further at midnight ET (5am UK time) on Wednesday, following the implementation of broad 10 per cent tariffs that have shaken the global economy since they took effect over the weekend.
China has been the most affected by the tariffs but has shown no indication of backing down, pledging to continue the trade war “to the end” and vowing countermeasures to protect its interests.
China’s retaliatory tariffs of 34 per cent on US goods are set to take effect on Thursday.
More to follow…
Trump’s tariffs on numerous economies took effect on Wednesday
REUTERS