Trump's tariffs on China to rise to 104% overnight, White House says
WASHINGTON ― 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.
But Trump on Monday threated an additional 50% tariff on Chinese goods in response to 34% retaliatory tariffs China imposed on the U.S.
China's Commerce Ministry vowed earlier Tuesday to "fight to the end" against Trump's tariffs.
As Trump has opened trade negotiations with South Korea, Japan and other nations, Trump said China is not among about 70 countries that have reached out to the Trump administration to talk.
Leavitt said Trump believes China and its President Xi Jinping "want to make a deal."
"They just don't know how to get that started," she said, adding that if China reaches out out to make a deal, "he'll be incredibly gracious, but he's going to do what's best for the American people."
Beijing on Tuesday issued a stern rebuke in response to Trump's threat of an additional 50% tax on Chinese imports, calling the move "blackmail" and vowing to "fight to the end."