Trump’s tariff of 104 % on China to bear in effect in the middle of the night, and to slander the previous market gains

The United States said on Tuesday that the duties of 104 percent over imports from China will shift in effect shortly after midnight, even as the Trump administration moved to start talks quickly with other commercial partners targeting them with a comprehensive tariff plan for President Donald Trump.

American stocks retreated on the news. Global markets have already registered gains in the hope that Trump will be ready to negotiate a group of the country’s commercial barriers and the product that it lives around the largest market for consumers in the world.

The administration has identified talks with South Korea and Japan, and two close allies and major commercial partners, and Italian Prime Minister Georgia Meloni will visit next week.

But the White House made it clear that the special customs tariffs of up to 50 percent will move the valid at 12:01 am, as planned.

These definitions will be very slope in particular for China, as Trump has escalated its duties on its imports to 104 percent in response to the counter -relica announced by Beijing last week. China refused to bow to what it called “blackmail” and pledged “fighting to the end.”

Administration officials said they would not give priority to negotiations with economic power No. 2 in the world.

“Do not do exemptions … in the short term”

Trump’s sweeping tariff raised fears of stagnation and worked with global trading order for decades.

“At the present time, we have received instructions to determine the priorities of our allies and trade partners such as Japan, Korea and others,” said White House Economic Adviser Kevin Haysit in Fox News.

The White House said that Trump issued instructions to his commercial team to create “specially designed” deals for about 70 countries that continued in the talks. Trump’s commercial negotiator, Jameson Jarir, told Congress that his office is trying to work quickly, but he does not face a certain time.

“The president was clear, once again, that he was not making exemptions or exceptions in the short term,” Jarir told legislators.

China is preparing for the war of attrition, and it warns manufacturers of profits and stampede to plan new factories abroad. Quoting the rise in external risks, CITI reduced the growth expectations of GDP in China 2025 to 4.2 percent from 4.7 percent.

Three out of four Americans expect prices to rise with the start of Trump’s tariff, according to L. Reuters/IPSOS poll.

Consumers store

Chipmaker Micron told customers that it will impose additional tariff fees starting on Wednesday, while retailers in the United States said they delay requests and stop employment. Running shoes made in Vietnam, which are now selling for $ 155, will cost $ 220 when Trump’s tariff becomes 46 percent on this country, according to the industry group.

Consumers store while they can. “I buy dual anything – beans, canned goods, and flour, called it,” said Thomas Jennings, 53, who pays the shopping cart through the New Jersey Wall Mart corridors.

The stock markets found more stable on Tuesday after they were a few of the intestine for investors, prompting some business leaders, including those close to Trump, to urge the president unlike the path.

European stocks wore 14 months after four consecutive sessions of heavy sale, while global oil prices are stable after they drop to their lowest levels for four years. Wall Street’s main indexes made gains early in the day, but it fell after the White House said that customs duties on China would apply.