Mumbai, April 7: In a bold move amid rising trade tensions, U.S. President Donald Trump has hit China with a 104% tariff hike. The tariff officially came into effect at noon ET on Tuesday, with collection starting from April 9, according to White House officials.
As this major economic step unfolds, an old interview of President Donald Trump on David Letterman’s show has resurfaced and the video is going viral on the internet. In the clip, Letterman questions Trump on where his branded products are made, only to reveal that many of them were manufactured in China, Bangladesh and other countries, despite Trump’s frequent calls to “buy American.”
The Viral Throwback
In the interview, Letterman holds up a Trump tie and bluntly asks him where it's made. When he sees the label, he says, “Made in China!” The audience laughs and Trump offers an awkward smile. The same clip from the interview is being widely shared on social media, with many pointing out the irony of Trump's current trade war stance versus his past business practices.
One user commented, “Trump raised tariffs to 104%, so it’s a great time to revisit the time Letterman cooked him for making all his crap in China.”
The New Tariff Action
The tariff announcement comes amid ongoing tensions between the U.S. and China. Trump said he was waiting for China to respond to earlier measures, but with no progress, the 104% additional tariffs have now been activated.
Fox Business reporter Edward Lawrence quoted the White House Press Secretary, stating, “104% additional tariffs went into effect at noon eastern time because China has not removed its retaliation… The additional tariff will be collected starting tomorrow, April 9.”
Trump had earlier imposed 10% tariffs on almost all imports, with some goods facing rates of up to 50%. The new 104% tariff is one of the highest-ever levies in recent U.S. history.
China's Response
China has dismissed the move as “blackmail”, promising to “fight to the end”. Beijing insists it will not be pressured into concessions and has imposed its own retaliatory tariffs in response to U.S. actions.
Despite the escalating trade war, Trump suggested that a deal could still be reached, saying, “China also wants to make a deal, badly, but they don’t know how to get it started. We are waiting for their call. It will happen!”
Economic Impact Of Tariff Hike
The stock markets, which had been rattled in previous weeks, saw some recovery following Trump’s April 2 announcement. However, global investors remain cautious amid fears of long-term supply chain disruptions and higher prices for consumers.
