The White House announced that an additional 104% tariff was enacted on Tuesday due to the recovery of tariffs that commence on April 9. US President Donald Trump threatened additional tariffs on China if Beijing did not rule out US retaliation obligations on exports. The latter brought a 34% tariff increase in the US in response to Trump’s tariff announcement last week. As China has not yet lifted retaliatory tariffs, the White House has added a 104% tariff on Chinese imports.
Trump said Monday that he was “waiting” a call from China to do trade and tariff transactions, whilst promoting a delegation from South Korea that is already heading to the US to do its own deal. “China also wants to make a bad deal, but they don’t know how to start it,” Trump said in a post to Truth Society. “We’re waiting for their phone call. It’s going to happen!”
Just: 🇺🇸🇨🇳The White House says an additional 104% tariff in China came into effect at noon today. pic.twitter.com/ah3m21hskt
– watcher.guru (@watcherguru) April 8, 2025
Markets are responding to rising Trump tariffs in China
The global stock market, particularly in the US, began to recover on Tuesday after consecutive days in the red. However, the latest tariffs could affect top US companies that rely heavily on the Chinese market. Companies like Nvidia (NVDA) and Apple (AAPL) were hit very hard last week, but rebounded slightly earlier in Tuesday’s trading session. However, after 12pm, the AAPL has plummeted again, sinking from $185 to $177.
Furthermore, the global crypto market was a hit from tariff talks, linked to a recession in the stock market. The global crypto market capitalization was $2.46T, down 0.18% on the last day. The total amount of crypto market over the past 24 hours was $10.882B billion, down 53.06%. Bitcoin (BTC), the leading cryptocurrency by market capitalization, has dropped by more than 7% in the past seven days. Some experts suggest that King Cryptocoins can be made Get back during the China-USA tariff warbut it hasn’t been seen last week yet.
On Monday, the White House also rejected a wire headline that said Trump was considering suspending new tariffs for 90 days. Several economic experts and billionaires say new tariffs from the US threaten a recession that has lasted for years. Moreover, tariffs can even spur more US enemies, and China is not only hit hard. In response to the rise in tariffs on Tuesday, China said it would “fight to the end” as it announced measures to Trump’s tariff plans.
