The following is a report from Reuters.
The United States said on Tuesday that 104% duties on imports from China will take effect shortly after midnight, even as the Trump administration moved to quickly start talks with other trading partners targeted by President Donald Trump’s sweeping tariff plan.
U.S. stocks retreated on the news. Global markets had previously posted gains on hopes that Trump might be willing to negotiate down the array of country and product-specific trade barriers he is erecting around the world’s largest consumer market.
The administration has scheduled talks with South Korea and Japan, two close allies and major trading partners, and Italian Prime Minister Giorgia Meloni is due to visit next week.
But the White House made clear that country-specific tariffs of up to 50% would nevertheless take effect at 12:01 a.m. Eastern Time (0401 GMT), as planned.
Those tariffs will be especially steep for China, as Trump has ratcheted up duties on its imports to 104% in response to counter-tariffs Beijing announced last week. China has refused to bow to what it called “blackmail” and has vowed to “fight to the end.”
Administration officials said they would not prioritize negotiations with the world’s No. 2 economic power.
Trump’s sweeping tariffs have raised fears of recession and upended a global trading order that has been in place for decades.
“Right now, we’ve received the instruction to prioritize our allies and our trading partners like Japan and Korea and others,” White House economic adviser Kevin Hassett said on Fox News.
The White House said Trump instructed his trade team to create “tailor made” deals for the nearly 70 countries that have reached out for talks.
Trump’s lead trade negotiator, Jamieson Greer, told Congress that his office is trying to work quickly but is not facing a particular deadline.
“The president has been clear, again, that he’s not doing exemptions or exceptions in the near term,” Greer told lawmakers.
China is bracing for a war of attrition, and manufacturers are warning about profits and scrambling to plan new overseas plants. Citing rising external risks, Citi cut its 2025 China GDP growth forecast to 4.2% from 4.7%.
To read the full report by Susan Heavey, Trevor Hunnicutt and Joe Cash at Reuters, click here.
Click here to read a recent letter from the RV Industry Association (RVIA)’s President and CEO Craig Kirby addressing the RVIA’s engagement with tariff impacts.
