A Sharp Turn in U.S.–China Trade Strategy At noon on Tuesday, the White House enacted a new 104% tariff on Chinese imports, escalating an already volatile trade standoff between the world’s two largest economies. The move comes after China failed to roll back its own retaliatory tariffs, including a 34% hike on U.S. goods imposed last week. President Trump had previously warned that additional tariffs were on the table if Beijing didn’t reverse its countermeasures. With no such action from China, the administration moved forward with one of the largest import penalties in modern U.S. trade history. Tariff collections will begin April 9. Markets Jittery Amid Escalation Following the announcement, financial markets responded with a brief recovery early Tuesday—only to…
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