104% tariff on China lives – even Musk seems outraged

Trump’s tariffs have officially launched – and they include a horrific 104% duty on Chinese imports.

Despite the growing embarrassment and concern expressed by economists and executives, the Trump administration officials were stubborn in defending their trade policy. Treasury Secretary Scott Baby said on Tuesday CNBC that about 70 countries wanted to discuss deals with the White House, while the trade advisor Peter Navaro said on Friday that the tariffs were not discussed. (Is the discussion of transactions – this is a form of negotiations obviously controversial.)

But at least one Trump frame does not seem too happy with the tariffs. Elon Musk, without addressing the White House trade policy, called Navarre – the main trade advisor of the administration – “moron” and “dangerous”. Musk is actually the leader of Deo Doge, a key role in the Trump administration. It is also a TESLA CEO, a multinational company.

However, given how strong White House officials stand for tariffs, it does not seem that the public hostility from Navarre will interfere with the wound on the world trade.

Tariffs come into force
US President Donald Trump The last tariffsRelated duties within 11% to 84% in 86 countries now live. The circle of so -called mutual tariffs exceeds the base rate of 10%, which was imposed by many other countries over the weekend. After China, the forest is subjected to the largest tariff in the new round. Exports of African country to the US is subject to 50%.

Huge tariffs on China
China to see A pure total tariff is 104% for exported goods to the US. They make up previously imposed on 20% duty, 34% of the additional tariff and an increase of 50% at the last minute, which Trump signed at the end of Tuesday. Treasury Secretary Scott Sevents said China’s response on Tuesday “was a big mistake“After tariffs, Citi on Tuesday This year reduced the growth forecast in China to 4.2% of 4.7%. The signs indicate that Citi became the first on Wall -Rate.

Early stock in the US markets stands out
American shares fell on TuesdayGiving up the income from the rally earlier than the day. A Dow Jones Industrial Medium lost 0.84%. A S&P 500 decreased by 1.57%and Nasdaq Composite It fell by 2.15% – the first lost more than 12% and the second decreased by 13% in the last four trade classes. Asia-Pacific Markets were in Red Wednesday. Japan Nikkei 225 lost about 4%and South Korea Kospi More than 1.8%fell to reach the bear market area.

Microsoft again the most valuable company
Apple’s Over the last four days on Tuesday, 5% decreases on Tuesday, which gives a company based in Cupertino, a market cap of 2.59 trillion. Dollars. It means MicrosoftWhich costs 2.64 trillion. Dollars, again The most valuable public company in the world. Apple becomes the most violent among Megacap companies Tech because of China’s dependence – and Making iPhones in the USA According to the analyst, this is not a “thing”.

Mus
Tesla CEO Elon Musk on Tuesday exploded Best Trump Advisor on Trade Peter Navaro as’ Really Debil“Musk replied to Navarre’s comment that Tesla is rather a” car collector “than a car manufacturer. When asked about hostility, White House press -secretary Carolyn said:” The boys will be boys, and we will allow them to continue public sparring. “

The Bank of India lowers the rates
Central Bank of India SupposedlyNoting the lowest level since September 2022 as he grows. India’s economy expanded weaker than expected, 6.2% In the fourth quarter 2024, u have Expected to grow by 6.5% In the financial year until March 2025 – a sharp slowdown with 9.2% last. In addition, 26% of Trump’s tariff in India came into force.

(Pro) stocks in favor of trading transactions
US Treasury Secretary Scott Bavert said that about 70 countries have applied to the White House to Discuss the tariff offers. Some of these countries may first come to an agreement that may lift Stocks of companies having close business affairs in these places.

No transaction to stop the US-Kita Trading War

“We have repeatedly emphasized that the pressure or threat of China is not the right way to interact with us,” said Chinese Foreign Ministry’s press -secretary Lin Jian, in accordance with the official translation into English in mandarin. “China will firmly retain its legal rights and interests.”

As for the negotiations, he rejected the question to the “competent authorities”. He added on Tuesday that the US does not seem to be serious about negotiations, given its actions.

But, outside some field restrictions on tariffs and Chinese exports, it is unclear what the US-Chita transaction will look like.