‘Explosive’ Trump tariffs take effect with 104% hike on China as Don says countries are ‘kissing my a**’ to make deals
PRESIDENT Donald Trump's explosive tariffs have officially taken effect across the globe - including a crushing 104% hike for China.
Around 60 countries dubbed the "worst offenders" by the US President have been slapped with the huge increases - sparking fears of a global trade war.
Trump has insisted the US is already benefiting from the sweeping tariffs, which he says are bringing in $2billion per day.
And as the strongest wave of tariffs yet came into effect, Trump said world leaders are lining up to "kiss his a**" and make a deal.
He also blasted "trade cheaters all over the globe" as he claimed he was standing up for working Americans.
The President spoke just hours after stoking a bitter battle with Beijing as he imposed the crippling 104% tariffs on all Chinese imports.
China has seen the highest rates, along with Vietnam (46%), Thailand (36%), Japan (24%) and the European Union (20%).
The UK has not faced any further rises beyond the 10% baseline rise which came into effect last weekend.
But despite the president's claims that business is better than ever, the trade war has already wiped trillions off global markets.
The stock market plummeted again on Tuesday after a seemingly optimistic morning.
The S&P 500 dropped 1.6%, the Dow Jones Industrial Average slid 320 points, and the Nasdaq plummeted 2.1% in response to Trump announcing new additional tariffs in his war against China.
China has vowed to "fight to the end" in what's been called a global game of chicken.
However, Trump said Beijing “wants to make a deal, badly, but they don’t know how to get it started”.
Speaking about Beijing's retaliatory tariffs, the President said: "I have great respect for China, but they cannot do this.
"We are going to have one shot at this... I'll tell you what, it is an honor to do it."
Trump coins a brand new word
Donald Trump has coined a brand new word called "PANICAN" to refer to people who he thinks are "weak and stupid" and get panicked easily.
Posting on Truth Social, Trump told Americans not to be a "PANICAN" amid his tariff war.
He said: "The United States has a chance to do something that should have been done DECADES AGO. Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN (A new party based on Weak and Stupid people!).
"Be Strong, Courageous, and Patient, and GREATNESS will be the result!"
Since Trump posted the term on social media, it has gone viral and received hilarious reactions from users.
Reacting to the new word, a user wrote on X: "Oh phew. When I heard Trump created a new word, I thought that meant we were invading Panama and Canada today.”
While another user said: “Trump switches parties, becomes Panican.”
Read our Trump tariffs blog for the latest updates on Liberation Day...
Internet sensation MrBeast says Trump's 'random price hike was pretty brutal'
Internet sensation MrBeast has spoken out and criticised Trump's tariff policy.
The YouTuber, real name Jimmy Donaldson, said the tariffs could be a "nail in the coffin" for small businesses.
He said on X: "Ironically because of all the new tariffs it is now way cheaper to make our chocolate bars we sell globally NOT in America."
Alongside his booming YouTube career, MrBeast owns the chocolate business Feastables.
He added that he was already "spending a lot" on cocoa and that the Republican's "random price hike was pretty brutal".
MrBeast concluded: "We'll figure it out. I feel for small businesses though. Could really be a nail in the coffin for them."
MrBeast (Jimmy Donaldson) arrives at the 11th Annual Breakthrough Prize Ceremony 2025 held at the Barker Hangar China to impose additional tariffs of 84% on US goods
China has announced additional tariffs of 84% on US goods starting tomorrow - a whopping 50% increase from its previous levies.
The additional tariffs are set to be imposed tomorrow, the foreign ministry said.
The strong response comes after Donald Trump officially imposed a major 104% tariff on China.
Trump had hit China with an extra 50% this week which followed two previous gargantuan levies of 34% and 20% - bringing the total to 104% from this morning.
China said in a statement to the World Trade Organisation prior to the additional tariffs of 84%: "The situation has dangerously escalated. As one of the affected members, China expresses grave concern and firm opposition to this reckless move."
Earlier, China’s foreign ministry spokesperson Lin Jian told a news conference today that his nation will “never accept” America’s bullying tactics.
Price of coffee, cheese and chocolate to rise IMMINENTLY, experts warn
Tariffs are to make some grocery shopping items more expensive today, supermarket and food industry experts have warned.
US shoppers could see prices rise on basics like coffee, fruit and cheese, as well as seafood, nuts, chocolate and sweets.
And items that have packing like plastic and aluminium from other countries will also rise.
CEO of IGA John Ross said: "Shoppers will start seeing it at scale across the store in the next 90 days."
US and China 'stuck in game of chicken'
Earlier, China’s foreign ministry spokesperson Lin Jian told a news conference today that his nation will “never accept” America’s bullying tactics.
The strong response comes after Donald Trump officially imposed a major 104% tariff on China.
Now one economist has warned that neither China or the US show any signs of backing down.
Ting Lu, chief China economist at Japanese bank Nomura, told Sky News: "The US and China are stuck in an unprecedented, and expensive, game of chicken, and it seems that both sides are unwilling to back down."
The Sun's top tops to keep your 401k recession-proof despite tariff turmoil
Taiwan stock exchange slump in value following tariffs
Credit: Getty 
Credit: Getty 
Credit: Getty Every country now hit by Trump's tariffs
IN order of who now faces the largest US reciprocal tariff...
- China 104%
- Cambodia 49%
- Laos 48%
- Madagascar 47%
- Vietnam 46%
- Myanmar 44%
- Bangladesh 37%
- Serbia 37%
- Botswana 37%
- Thailand 36%
- Taiwan 32%
- Indonesia 32%
- Switzerland 31%
- South Africa 30%
- Pakistan 29%
- Tunisia 28%
- Kazakhstan 27%
- India 26%
- South Korea 25%
- Japan 24%
- Malaysia 24%
- Cote d'Ivoire 21%
- Jordan 20%
- European Union 20%
Another 25 countries also face a reciprocal tariff which sits below 20% - including the UK who are at 10%.
Watch: Latest Sun video package on the tariff saga
Trump's 'explosive' global tariffs take effect including 104% hike on ChinaChinese leaders to meet later today
China's top officials are due to hold a crunch meeting later today to discuss the next steps needed to help boost the economy.
Officials from the state council, central bank, finance ministry and dozens more are expected to attend the meeting, sources told Reuters.
China responds to Trump's huge tariffs
China's foreign ministry spokesperson Lin Jian told a news conference today that his nation will "never accept" America's bullying tactics.
The strong response comes after Donald Trump officially imposed a major 104% tariff on China.
Jian announced: "The US continues to abuse tariffs to pressure China, China firmly opposes this and will never accept this kind of bullying."
He added that the trade war could easily be ended through positive dialogue and negotiations.
The US should develop "an attitude of equality respect and mutual benefit", he added.
China will continue to take "resolute and effective measure" to protect its personal interests, Jian said.
Credit: EPA 'These countries are calling us up. Kissing my ass' - Trump
Germany and France recession fears
European giants Germany and France are both at risk of another recession as a result of the global trade tensions imposed by Donald Trump's tariffs.
Germany's finance minister Joerg Kuki told broadcaster Deutschlandfunk this morning: "A possible trade conflict increases the risk of recession, there is no question about that."
The head of the Medef business lobby group in France has voiced similar fears.
Patrick Martin warned that a deepening global trade war could soon hit economic growth and lead to a damaging recession.
He told RTL radio: "Of course I am worried. The risk is that growth will stall and that we go into a recession."
Who has been impacted most by Trump's tariffs?
Donald Trump's latest round of punishing tariffs have impacted on around 60 countries.
Here are some of the biggest trading partners who have been hit with the worst:
- China: 104%
- Vietnam: 46%
- Thailand: 36%
- Japan: 24%
- European Union: 20%
Trump hits out at 'trade cheaters all over the globe'
In Pictures: Trump signs new executive orders
Credit: EPA 
Credit: Reuters 
Credit: Getty 
Credit: Reuters
New 104% tariffs on China take effect
Donald Trump's sweeping tariffs have taken effect with China feeling the huge effects of a 104% tax rise.
The US had previously slapped China with 20% taxes on all imports, which came into effect last month.
This latest rise comes with the two nations both stuck in a tit-for-tat economical war.
Credit: Reuters Trump’s billionaire pals see fortunes SLASHED in tariff chaos as Musk loses $31bn & Zuck tanked by $27bn
Billions of dollars have been wiped off the fortunes of top American billionaires after Donald Trump began his blistering global trade war.
The world’s 500 richest people lost a whopping $536bn in the first two days of Trump's Liberation Day tariffs - with Elon Musk and Mark Zuckerberg taking the biggest hits.
Many of the world's top billionaires who lined up together in a rare spectacle for Trump's inauguration have seen their wealth shrink.
This includes the world's richest man and Trump's top advisor Elon Musk, who has lost a staggering $31billion after the president announced his sweeping tariffs.
Tesla shares fell by almost 5% on Wall Street yesterday.
And as Tesla faced severe backlash across the US and Europe, Musk’s estimated wealth tanked by a whopping $130billion so far this year.
However, he still sits at the top of the billionaires list as the world's richest person with a total net worth of $302billion.
Click here to read the full story
Tuesday roundup: Trump tariffs bite, EU booze spared, and Musk hits back
Donald Trump’s sweeping new tariffs on around 60 countries — labelled the “worst offenders” — officially came into effect today, triggering fresh market movement and global reaction.
Here’s what happened:
- FTSE 100 claws back some losses
After three consecutive days of losses, the FTSE 100 opened with a 0.91% rise, offering some relief for UK markets. - EU booze spared the backlash
European alcohol producers made gains after it emerged the EU had excluded whiskey, wine, and dairy products from its 25% retaliatory tariffs on US goods. - No exemptions expected (for now)
US trade representative Jamieson Greer said exemptions to Trump’s global tariffs are not expected in the near term. - Dozens of countries seek tariff talks
White House press secretary Karoline Leavitt revealed that nearly 70 countries have approached the US for negotiations since Trump’s “liberation day” last Wednesday. - Musk lashes out at Navarro
Elon Musk took aim at senior Trump adviser Peter Navarro, calling him a “moron” — a sign of growing cracks within the administration over its trade stance.
Markets, businesses, and world leaders remain on edge as Trump’s trade war enters its next phase.
- FTSE 100 claws back some losses
Big tech stocks tumble as trading closes
US tech giants ended the day deep in the red as market volatility continued to bite.
Tesla fell 5.45 per cent, Apple slid 5.22 per cent, Nvidia dropped 2.01 per cent, and Amazon closed down 2.88 per cent.
The so-called “magnificent seven” — Nvidia, Alphabet, Amazon, Apple, Microsoft, Meta, and Tesla — have made up a major chunk of the more than $5tn (£3.9tn) wiped from the S&P 500 in recent sessions, Reuters reported.
Credit: AP Wall Street surges ‘built on a house of cards’ amid wild swings
Wall Street saw a rollercoaster trading day as major indexes swung sharply in both directions, driven by uncertainty over Donald Trump’s tariff blitz.
The Nasdaq soared as much as 4.6 per cent before sliding 3.5 per cent, while the Dow Jones jumped 3.85 per cent and dropped 2.3 per cent.
The S&P 500 surged over 4 per cent intraday — its biggest one-day jump since 2022 — only to fade hard by the close.
“The volatility reflects the new situation in which no one knows what the rules of road are, or even what the desired destination is,” said Que Nguyen of Research Affiliates.
Stephen Innes of SPI Asset Management added: “Volatility is now the main show... But let’s not pretend this is a stable foundation. These rallies are still built on a house of cards.”
Rebuilding bridges with EU key to weathering economic storm, says UK minister
Reconnecting with the European Union is vital to protecting Britain’s economy from the fallout of Donald Trump’s tariffs, Health Minister Stephen Kinnock has said.
“It is very turbulent. Nobody benefits from a trade war,” he told Sky News’s Politics Hub.
“We are seeing a prime minister who is really showing leadership, he is engaging with Donald Trump and seeking to negotiate the best possible deal that we can in terms of economic prosperity.”
Kinnock added: “He’s also rebuilding the bridges that were burned by previous Conservative governments in terms of our relationship with the European Union.”
He said the government’s industrial strategy, investment in skills, and support for domestic industries would help Britain “weather the storm”.
UN chief warns trade war fallout will be ‘devastating’ for poorest countries
UN secretary-general Antonio Guterres has raised the alarm over the impact of Donald Trump’s trade war on the world’s most vulnerable nations.
“Trade wars are extremely negative. Nobody wins with a trade war, everybody tends to lose,” he told reporters.
Guterres said he was particularly concerned about developing countries, warning the consequences for them would be “more devastating”.
Ready to make a deal
President Donald Trump's tariffs, including a 104% tariff, will go into effect at midnight ET tonight.
US Customs and Border Protection said it's prepared to start collecting specific tariffs from 86 US trade partners starting tonight.
Press sec weighs in on public feud
Elon Musk and Peter Navarro, Trump's trade adviser, have been publicly feuding about tariffs since President Donald Trump announced the sweeping levies last week.
White House Press Secretary Karoline Leavitt warned the public not to be confused about the benefits of tariffs due to the clash.
"These are obviously two individuals who have very different views on trade and on tariffs," Leavitt said at a White House briefing on Tuesday.
"Boys will be boys, and we will let their public sparring continue."
"It was a mistake for China to retaliate. When America is punched, [Trump] punches back harder, and that's why there will be 104% tariffs going into effect on China tonight at midnight."
Karoline Leavitt