Article originally appeared on www.dailywire.com.
President Donald Trump’s 104% tariffs on China took effect at midnight, and the Chinese hit back almost immediately.
Hours after Trump’s tariffs went into effect, China announced it would impose additional retaliatory tariffs of 50% on the United States starting Thursday, bringing its total tariff on American imports to 84%. In response to the tariffs and escalating trade war, markets around the world continued to struggle while American stock futures were down Wednesday morning.
The White House stood by its actions on Wednesday morning, saying that China’s retaliation was a losing strategy. Treasury Secretary Scott Bessent said it was “unfortunate” the Chinese don’t want to negotiate, calling them the “worst offenders” in the global economy.
“I think it’s unfortunate that the Chinese actually don’t want to come and negotiate because they are the worst offenders in the international trading system. They …
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