Trump will hit China with 104 percent tariffs

The US will impose a cumulative 104 percent tariff on goods imported from China after midnight tonight, alongside a host of tariffs on other countries, the White House confirmed to CNBC.

It’s one of the most staggering figures from President Donald Trump’s worldwide trade war launched last week. The Trump administration calls the tariffs part of an effort to get the US on even footing with trade partners, bring manufacturing jobs back to the US, and replace the existing tax structure....