President Trump is facing mounting pressure as his aggressive trade tactics have drawn an equally forceful response from China, escalating a confrontation with far-reaching consequences for the global economy.

What began as Trump’s bold move to impose 104% tariffs on Chinese goods has quickly turned into a tit-for-tat escalation. China announced it would impose an 84% tariff on U.S. imports—50% higher than previously signaled. The move signals that hopes for de-escalation are diminishing.

“The U.S.’s practice of escalating tariffs on China is a mistake on top of a mistake, which seriously infringes on China’s legitimate rights and interests, seriously damages the rules-based multilateral trading system, and seriously impacts the stability of the global economic order. It is a typical example of unilateralism, protectionism, and economic bullying,” China’s customs agency stated on its website.

China’s tariffs will take effect from around noon local time on April 10, leaving global supply chains with less than a day to adjust. Market analysts warned of increased pressure on already fragile logistics systems, and financial markets responded with renewed volatility.

Speaking Tuesday night at the National Republican Congressional Committee Dinner in Washington, Trump sought to reassure party members amid economic uncertainty. “I am telling you, these countries are calling us up, kissing my ass,” he said.

Trump has long championed the use of tariffs to repatriate American manufacturing and reduce reliance on foreign imports. Despite growing fears of economic fallout, he remains defiant: “Tariffs will make this country very rich.”

The full list of U.S. tariffs can be accessed at the White House website.

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