US’s 104% tariffs on China to take effect on Wednesday

Tariffs that will effectively double the price of everything that comes from China to the United States is set to take effect at midnight on Wednesday, as Beijing stood firm on its plan to slap retaliatory duties on US imports in response to Donald Trump’s “Liberation Day” tariffs. Meanwhile, the White House says nearly 70 countries have come forward to try and negotiate a deal out of the punitive tariffs. US stocks tumbled again after a brief rally.