Tariffs dwell: Global markets brace as US confirms China to be hit with 104% levies in a single day
The White House has confirmed China will be hit with a 104 per cent tariff rate from 12:01am ET on Wednesday.
Donald Trump’s press secretary confirmed that the measures will come into place after Beijing did not lift its retaliatory tariffs on US goods by a Tuesday noon deadline.
Earlier, the US president threatened to impose an extra 50 per cent levy on top of the existing 54 per cent tariff on Chinese imports, bringing the total levies on Chinese products imported to the US to over 100 per cent.
The Chinese foreign ministry vowed its country would “fight till the end”, amid reports it is preparing for a US imports block, as it accused America of “typical unilateralism and protectionist economic bullying”.
It is not yet clear what counter-measures Beijing is planning to impose, although the BBC reported, citing state media, that the US agricultural sector could be impacted, including a potential total ban on poultry.
Global trade friction sparked by Trump tariffs could put 85% of NHS medicines at risk, ministers warned
The availability of around 85 per cent of NHS medicines could be at risk unless the UK government strengthens its supply chains to prepare for worsening geopolitical tensions, ministers have been warned.
Manufacturers in Britain have urged the government to treat it as a defence issue, with the supply of drugs such as antibiotics under threat if global tensions continue to rise as a result of Donald Trump’s decision to ramp up tariffs across the world.
If pharmaceutical and medical suppliers are hit by a US-led tariff war, the NHS could have to pay more for medicines, another expert has said.
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Trump will be ‘incredibly gracious’ if China wanted to make a deal
Donald Trump believes that China has to make a deal with the United States concerning additional tariffs that are set to go into effect on Wednesday, the White House press secretary has said.
“The Chinese want to make a deal. They just don’t know how to do it,” Karoline Leavitt told a news briefing on Tuesday.
“He believes China has to make a deal with the United States.”
If China reaches out, she added, Trump would be “incredibly gracious, but he’s going to do what’s best for the American people.”
Watch: White House comments ‘Boys will be boys’ on Elon Musk and Peter Navarro feud
US ‘punches back harder’, Leavitt says
When asked if the additional 50 per cent tariff would be imposed on China tonight, the White House press secretary said: “It will be going into effect at 12.01am tonight. So effectively tomorrow.”
She added: “The president believes that China wants to make a deal with the US. China has to make a deal with the US.
“It was a mistake for China to retaliate. When America is punched he punches back harder.”
China to be hit by 104% tariff tomorrow, White House confirms
The White House has confirmed that the US will impose a 104 per cent tariff on China from 12:01am ET on Wednesday.
Donald Trump’s press secretary Karoline Leavitt told reporters on Tuesday afternoon that the measures will come into place after Beijing did not lift its retaliatory tariffs on US goods by a noon Tuesday deadline.
‘Boys will be boys’, White House press secretary dismisses row between Musk and Navarro
Elon Musk has launched an extraordinary attack on Donald Trump’s economic adviser Peter Navarro earlier, calling him “truly a moron” and “dumber than a sack of bricks” on X over the administration’s controversial tariff policy.
When asked if Trump was concerned about the comments, the White House press secretary Karoline Leavitt dismissed the comments.
She told reporters: “These are obviously two individuals who have very different views on trade and on tariffs.
“Boys will be boys and will let their public sparring continue and you guys should all be very grateful that we have the most transparent administration in history.”
Countries ‘falling over themselves’ to negotiate deal with Trump – White House
The White House press secretary Karoline Leavitt is holding a press briefing now.
She said nearly 70 countries have reached out to Donald Trump following his tariff announcement and are “falling over themselves” to secure a deal with the US.
White House to hold press briefing briefly
The White House press secretary Karoline Leavitt is due to hold a press conference shortly.
We are expecting to hear more about whether Trump will impose further tariffs on China from tomorrow.
Minutes before the briefing is due to begin, Fox News’ business corespondent reported that the tariffs would go into effect at midnight tonight.
We will update you shortly.
UK should not ‘jump with both feet’ to retaliate against Trump tariffs – Starmer
The UK should not “jump in with both feet” to retaliate against Donald Trump’s trade tariffs, Sir Keir Starmer has said.
Speaking to the Liaison Committee on Tuesday – the last day before MPs’ Easter recess – the Prime Minister continued to call for calm heads.
“My instinct is that we shouldn’t jump in with both feet to retaliate. So in that sense, I’m not changing my plans,” Sir Keir said.
“Obviously we have to keep our options on the table and do the preparatory work for retaliation if necessary. But I think that trying to negotiate an arrangement which mitigates the tariffs is better.”
The tariffs are not a “temporary passing phase” but part of a “changing world order”, the Prime Minister added.
Meloni to visit Trump next week
Italy’s prime minister has said she will visit Washington later this month to discuss tariffs with Trump.
Giorgia Meloni said she will meet the US president on April 17, after the Italian government unveiled plans to use 11 billion euros in cohesion funds to offset the impact of the tariff policy.
