White House Slaps 104% Tariffs On China
The White House announced that 104% tariffs on China went into effect at noon Eastern Time, revealed Karoline Leavitt, Press Secretary, as retaliation for China's applying 34% duties on US exports. She added that tariffs will be collected starting on Wednesday.
Market's reaction to the headline
US equity markets are pairing some of their earlier gains. Gold tumbled below the $3,000 mark, despite holding to modest gains of 0.27%, and the US Dollar Index (DXY), which tracks the performance of the buck against a basket of currencies, continued to edge lower, down 0.34% at 103.11
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