Trump unleashes a heavy tariff strike! Chinese goods hit with a 104% tariff, 86 countries affected.

New global tariffs are on the way, and the United States has imposed large-scale tariffs on 86 countries

U.S. President Trump has once again intensified pressure on foreign trade, with the latest round of tariff policies officially taking effect early Wednesday morning, imposing higher tariffs on imported goods from 86 countries worldwide, with rates soaring from 11% to as high as 84%, touted as so-called "reciprocal tariffs."

This wave of tariff increases is a further strengthening measure based on the implementation of a 10% baseline tariff rate on most countries over the past weekend, meaning that the Trump administration's stance on trade deficits and industry protection is becoming increasingly hardline.

China has become the largest victim country, with a total tax rate of 104% on exports to the United States.

In this round of tariff strikes, China is the first to bear the brunt, with a total tariff rate on goods exported to the U.S. reaching an astonishing 104%. This rate combines the previously implemented 20% tariff, the newly added 34% additional tariff, and the last wave of a 50% increase signed by Trump on Tuesday night.

The Chinese Ministry of Commerce expressed strong dissatisfaction and stated through the media: "The U.S. side's continuous escalation of tariff measures is a mistake upon a mistake. China absolutely does not accept this, and if the U.S. side insists on going its own way, China will accompany them to the end."

Many countries in Asia have also been affected, with Cambodia, Vietnam, and Laos not being spared.

In addition to China, the small African country of Lesotho has also been subjected to a high tariff of up to 50%, making it the second highest affected country in this single country case. Cambodia follows closely behind, facing a 49% tariff on goods exported to the U.S. starting Wednesday.

Laos and Vietnam, which border Cambodia, are also not spared, facing high tariffs of 48% and 46%, respectively. This wave of tariffs shows that the Trump administration is also highly concerned about the trade deficit issue in Southeast Asia.

India slams the brakes, central bank cuts interest rates to cope with new tariff pressures

In response to the heavy tax impact from the United States, the Reserve Bank of India acted swiftly, announcing a 25 basis point reduction in the policy interest rate to 6% to stimulate economic growth. Indian exports to the U.S. are currently subject to a 26% tariff, which, although not as high as other Asian countries, has already put pressure on the country's export industry.

U.S. stocks fell for four consecutive days, and Asian markets fell in tandem

Since Trump announced a new round of tariff policies on April 2, the four major U.S. stock indices have fallen for four consecutive trading days, reflecting market concerns over an escalation of the trade war. Nevertheless, Trump remains unfazed by the market volatility and optimistically stated at the White House, "America will soon become very rich again."

In the Asian stock market, there was a general decline after the new tariffs were officially implemented, with South Korea's KOSPI index even entering bear market territory, indicating a strong reaction from the international market to this wave of trade turmoil.

Global trade may continue to be turbulent, with the escalation of the US-China rivalry becoming a key variable.

The Trump administration's implementation of tariffs targeting 86 countries undoubtedly sends shockwaves through global trade. In particular, the trade friction between the U.S. and China risks escalating into full-blown confrontation under this 104% ultra-high tariff. In the coming weeks, market trends and policy responses will be the focal points for global investors to closely observe.

This article discusses Trump's heavy tariffs! Chinese goods face a 104% tariff, affecting 86 countries. First appeared on Chain News ABMedia.