President Donald Trump is set to impose an astounding 104% in levies across all Chinese imports on Wednesday. China was already set to see tariffs increase by 34% as part of Trump’s “reciprocal” tariffs package. But the president tacked on another 50% after Beijing didn’t back off on its promise to impose 34% retaliatory tariffs on US goods by noon Tuesday, adding an additional 84% in duties.

Learn more about your ad choices. Visit podcastchoices.com/adchoices