US To Proceed With 104% Duties On China Effective Midnight
The United States said on Tuesday (Apr 8) that 104 per cent duties on imports from China will take effect shortly after midnight, even as the Trump administration moved to quickly start talks with other trading partners targeted by President Donald Trump’s sweeping tariff plan.
US stocks retreated on the news. Global markets had previously posted gains on hopes that Trump might be willing to negotiate down the array of country and product-specific trade barriers he is erecting around the world’s largest consumer market.
The administration has scheduled talks with South Korea and Japan, two close allies and major trading partners, and Italian Prime Minister Giorgia Meloni is due to visit next week.
But the White House made clear that country-specific tariffs of up to 50 per cent would nevertheless take effect at 12.01am Eastern Time, as planned.
