Starting Wednesday, the United States is enforcing a 104% tariff on a range of Chinese goods, following an announcement by former President Donald Trump. Earlier, on April 2, a 34% tariff was imposed, adding to a previous 20% duty. In retaliation, China announced a 34% tariff on U.S. goods last Friday. Trump warned of an additional 50% tariff if China does not retract its decision. China’s response measures take effect from Thursday.