Trump Tariffs Live: "Great time to move to the US," Says Trump as China hits back with 84% tariffs

In a dramatic escalation of the ongoing US-China trade war, President Donald Trump has hit Chinese goods with a massive 104% tariff. In response, China has fired back with steep 84% tariffs on American products, up from the 34% it had announced earlier.

The latest tariffs, which kicked in at midnight on Wednesday, mark one of the most intense phases of this economic battle between the world’s two largest economies. Trump has also said that nearly all trading partners will now face at least a 10% tariff—especially those countries with a trade surplus against the US.

"Move Your Companies to America," Says Trump

Despite growing market concerns, President Trump stayed upbeat. He posted on Truth Social that it's a "GREAT time" for companies to move operations to the United States. He promised zero tariffs, fast energy approvals, and no red tape for those who invest in the country.

He also told Americans and markets to "BE COOL!", insisting that everything will work out and that the US will be "bigger and better than ever before."

China’s Counterpunch: Tariffs, Sanctions & Travel Alerts

In retaliation, China has not only raised tariffs but also added six US defense-linked firms to its "unreliable entities" list. These companies, including Shield AI and Sierra Nevada Corporation, are now banned from doing business with or investing in China. Beijing accused them of threatening China’s national security.

China also lodged a fresh complaint at the World Trade Organization (WTO), calling the new US tariffs unjust.

Meanwhile, China’s Ministry of Culture and Tourism has issued a travel advisory warning its citizens about rising tensions and security risks in the US, urging them to stay cautious.

Markets in Freefall

The financial fallout has been immediate. The S&P 500 dropped below 5,000 for the first time in nearly a year, marking a 19% drop from its recent peak. If it hits 20%, it will officially enter bear market territory. In just a week, S&P 500 companies have lost a staggering $5.8 trillion in market value.

It wasn’t just the US. Global markets took a hit:

FTSE 100 fell 3.4%

Stoxx 600 dropped 4.2%

Germany’s DAX and France’s CAC 40 both slid 3.4%

Asian markets like Japan’s Nikkei and India’s Sensex also saw heavy selling and are expected to remain volatile.