President Trump's trade war escalates with new tariffs on numerous countries, set to take effect Wednesday, including rates as high as 50% on some economies. China plans to retaliate with matching tariffs on U.

President Donald Trump's "reciprocal" tariffs on dozens of countries were set to take effect on Wednesday, including massive 104% duties on Chinese goods, deepening his global trade war even as he prepared for negotiations with some nations.

President Donald Trump announced an additional 50% tariff on goods imported from China, which could potentially double the price of Chinese imports. Trump's additional tariffs followed China's announcement that it was matching the "reciprocal tariff" Trump announced last week amid the new sweeping tariffs on US imports.

Trump's punishing tariffs have shaken a global trading order that has persisted for decades, raised fears of recession and driven worldwide stocks sharply downward. The S&P closed below 5,000 for the first time in nearly a year on Tuesday and is nearing a bear market,

China sees little to gain in capitulating to President Trump’s tariff threats, labeling them “blackmail” and vowing to “fight to the end.”

U.S. President Donald Trump's tariff 'wrecking ball' swung through financial markets again on Monday, sending investors scuttling for cover and wiping hundreds of billions of dollars more off the value of global stocks.

President Trump yesterday told China to rescind its retaliatory tariffs on the U.S. or face additional tariffs of 50 percent starting tomorrow. The threat came as countries around the world were trying to appeal to the president to have steep tariffs rolled back.