President Donald Trump holds up a letter from Chinese leader Xi Jinping as he announces an initial deal with China while meeting the special envoy and Chinese Vice Premier Liu He at the Oval Office on Oct. 11, 2019. Nicholas Kamm/AFP via Getty Images
Overnight, China was hit with 104 percent additional tariffs. These tariffs have stacked up quickly: 20 percent tied to Beijing’s role in fentanyl trafficking, 34 percent reciprocal, and another 50 percent was announced this week in response to Beijing’s retaliatory tariffs.
President Trumpand Chinese communist leaderXi Jinping are now having a stare-down contest over tariffs.
