US Trade Representative Jamieson Greer on Wednesday continued to defend President Donald Trump’s aggressive trade agenda as even higher tariffs went into effect for dozens of countries and trade tensions with China reach a fever pitch.

Despite rattled financial markets, threats of retaliation and some of President Donald Trump’s biggest supporters encouraging him to back off his signature economic policy, he didn’t give in. His administration piled on heaps of new “reciprocal” tariffs Wednesday on dozens of American allies and adversaries alike,

China will impose 84% tariffs on U.S. goods from Thursday, up from the 34% previously announced, its finance ministry said on Wednesday, firing the latest salvo in a global trade war sparked by U.S. President Donald Trump.

US President Donald Trump’s sweeping new tariffs have gone into full effect. When Mr Trump announced the latest round of tariffs on April 2, he declared that the US would now tax nearly all of America’s trading partners at a minimum of 10% – and impose steeper rates for countries that he says run trade surpluses with the US.

President Donald Trump continues to forge ahead with his domestic and foreign policy agenda as he moves to implement his plan for global tariffs. Follow here for the latest live news updates.

U.S. trade representative Jamieson Greer went before the House Ways and Means Committee Wednesday to testify about President Trump's tariffs. During the hearing, Mr. Trump announced he was putting a 90-day pause on reciprocal tariffs against most countries but raising tariffs on China to 125%.

The US does not normally see high interest rates on its debt as its bonds are viewed as a safe investment, but on Wednesday rates spiked sharply to touch 4.5%. The rise came after Trump pressed ahead with sweeping tariffs on goods being imported into the US,