In a dramatic escalation of the ongoing US-China trade conflict, President Donald Trump announced on April 8 that all Chinese imports to the United States would now face a sweeping 104% tariff. The move, an abrupt hike from the initially planned 34%, sent shockwaves through the global financial markets, wiping out an estimated $1.5 trillion in value from major US indices in a single day.

Trump, speaking at a National Republican Congressional Committee dinner in Washington, presented the decision as a retaliatory measure following China’s proportional response to earlier US tariffs. “After all of the abuses they’ve perpetrated, China is attempting to impose additional unjustified tariffs,” Trump declared. “But now it’s our turn to do the ripping.”

Originally, a 34% tariff on Chinese goods was set to take effect on April 9 as part of Trump’s broader “reciprocal” trade policy aimed at nations the administration claims have taken advantage of US economic openness. However, Beijing’s swift countermeasure-a 34% duty on US exports-triggered Trump’s decision to raise the ante dramatically.

The White House issued an amended executive order, building on Trump’s April 2 declaration of a national emergency over the trade deficit. The new directive solidifies a 104% blanket tariff on all Chinese imports, affecting over $500 billion in annual trade.

The administration insisted the move was necessary to end decades of what it sees as unfair trade practices by China. “They’ve ripped us off left and right,” Trump said. “They........

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