Trump launches a heavy tariff attack! Chinese goods are subject to a 104% tariff, affecting 86 countries

Global New Tariffs Take Effect, US Imposes Large-Scale Tariff Increases on 86 Countries

US President Trump has further increased trade pressure, with the latest tariff policy taking effect early Wednesday morning, imposing higher tariffs on imported goods from 86 countries worldwide, with rates soaring from 11% to 84%, touting so-called "reciprocal tariffs".

This tariff increase is a further enhancement on the 10% base rate implemented for most countries last weekend, indicating that the Trump administration's stance on trade deficits and industrial protection is becoming increasingly hardline.

China Becomes Biggest Victim, Export Tariff Rate to US Reaches 104%

Under this tariff crackdown, China is the first to bear the brunt, with a total export tariff rate to the US reaching a staggering 104%. This rate combines the previously implemented 20% tariff, a new 34% additional tariff, and a final 50% increase signed by Trump late Tuesday night.

The Chinese Ministry of Commerce expressed strong dissatisfaction, stating through media: "The US continues to escalate tariff measures, which is compounding the error. China absolutely will not accept this, and if the US insists on its course, China will see it through to the end."

Multiple Asian Countries Impacted, Cambodia, Vietnam, and Laos Also Affected

Besides China, the African small country Lesotho has been hit with a 50% tariff, becoming the second-highest tariff-affected country. Cambodia follows closely, facing a 49% tariff on exports to the US starting Wednesday.

Neighboring countries Laos and Vietnam are also not spared, being subjected to high tariffs of 48% and 46% respectively. These tariffs indicate that the Trump administration is also highly focused on trade deficits in the Southeast Asian region.

India Hits the Brakes, Central Bank Cuts Rates to Counter New Tariff Pressure

Facing the impact of US heavy taxes, India's central bank quickly acted, announcing a 25 basis point cut in policy rates to 6% to stimulate economic growth. India currently faces a 26% tariff on exports to the US, which, while not as high as other Asian countries, still puts pressure on its export industry.

US Stocks Fall for Four Consecutive Days, Asian Markets Simultaneously Decline

Since Trump announced the new tariff policy on April 2, the four major US stock indices have fallen for four consecutive trading days, reflecting market concerns about the escalation of the trade war. Despite this, Trump is unconcerned about market volatility and optimistically stated at the White House: "The US will soon become very rich again."

Asian stock markets generally declined after the new tariffs took effect, with South Korea's KOSPI index even entering bear market territory, showing a strong international market reaction to this trade storm.

Global Trade Likely to Remain Turbulent, US-China Rivalry Becomes Key Variable

The Trump administration's tariff offensive against 86 countries undoubtedly throws a shock wave into global trade. Especially the trade friction between the US and China, which under this 104% ultra-high tariff, risks escalating into a comprehensive confrontation. In the coming weeks, market trends and policy responses will be the focus of close observation for global investors.