White House: Tariffs on China to jump to 104 percent on Wednesday

The U.S. will hike tariffs on goods from China in response to Beijing’s retaliation, White House Press Secretary Karoline Leavitt said on Tuesday, confirming the tariff rate imposed by President Trump during his second term would jump to 104 percent. The president in February imposed 10 percent tariffs on China over fentanyl-trafficking concerns, doubling them to 20 percent last month. Then, last week he rolled out a new tariff regime that included additional 34 percent tariffs on Chinese goods. Beijing...