Donald Trump pressed the trigger and intensified the trade war on Wednesday, threatening to shake world markets and provoking new turmoil in the international economy. Despite the concerns and calls to revise his decisions, the US president imposed additional 50% reciprocal duties on China with the total rate now reaching 104%.

Earlier, the US president had stated that “many” countries were seeking agreement with Washington, as his government was preparing on Wednesday to impose high duties on goods from dozens of markets.

However, Beijing said that it would “fight to the end” after Trump’s threats to impose an additional 50% duties on Chinese exports if Beijing does not lift its decision to impose retaliation in response to the 34% duties previously announced. This percentage is added to the already 20%existing tariffs, raising the total duty to Chinese imports to 104%.

The White House has announced that the Trump government is imposing an additional 50% tariffs on Wednesday. “President Trump has a spine of steel and will not retreat,” spokesman Caroline Levit said. “And America will not retreat under its leadership.”

Trump’s billionaire Advisor Ilon Musk is also alleged to have asked the president to review his decisions, while conservative businessmen Leonard Leo and Charles Koch filed a lawsuit against “illegal” duties.

The latter duties are higher than 10% of the universal basic tax imposed on all global imports in the US last Friday and have been adapted separately for each country based on a formula criticized by economists, which divides the commercial deficit of goods with double imports.

After days of turbulence following the first duty announcement last week, world markets reacted positively on Tuesday, as senior US officials tried to reassure investors, stating that new tariffs, including 20% ​​for 20% for the European Union and 26% for the European Union.

The FTSE 100 in London rose 2.7%, recovering part of the losses suffered by Trump’s announcement. In Wall Street, the S&P 500 won 2.8%, while the Dow Jones industrial index rose 2.9%.

Asia’s markets in the same climate followed the rise. The Nikkei 225 in Tokyo increased by 6%, while the Hang Seng index in Hong Kong rose 1.5%.

US Finance Minister Scott Bessed said the new duties are touched by the “maximum” levels and expressed confidence that the negotiations would reduce them.

“I think you will see some major countries with major commercial deficits with the US coming quickly,” he told CNBC on Tuesday. “If they come to the table with solid suggestions, I think we can reach good deals.”

Asked Monday, Trump if the duties lay the groundwork for negotiations with countries or whether they are permanent, he replied that “so, both may apply”. “There may be duties and there may be negotiations.”

However, he again reinstated the prospect of agreements with countries on Tuesday, referring to the possibility of reaching an agreement with South Korea.

“Their top team is on a plane and heading to the US, and things look good,” Trump wrote on the Truth Social platform. “We are also negotiating with many other countries that want to agree with the US.”

The president added: “The process of” one stop shopping “is a beautiful and effective process !!! China also wants to make a deal, but it doesn’t know how to start it. We are waiting for their call. It will be! “

Rachel Reeves, the United Kingdom Finance Minister, tried to alleviate worries about market volatility, telling parliament that he spoke with Andrew Bailey, the Bank of England Governor, who confirmed that “our markets are operating”.

A trade war “is not in the interest of anyone,” Ribian argued, confirming that the United Kingdom is seeking to negotiate a new agreement with the US. Trump has imposed a 10% duty on UK exports, according to the minimum index imported on the weekend.

China adopted a completely different attitude. In a harsh article, the official state news media Xinhua accused the US president of “brutal blackmail”.

“The US logic is absolutely absurd:” I can hit you at will, and you should not respond. On the contrary, you must surrender unconditionally, “the article said. “This is not diplomacy. It is raw blackmail, which appears as a policy. “

Social media widely communicated a video from a speech by then US President Ronald Reagan in 1987, published by the Chinese Foreign Ministry. In the video, Reagan criticizes the use of duties, saying they are leading to retaliation and eventually harm the American economy. “This video has a new meaning in 2025,” the Chinese newspaper The Paper said.

Scott Bessed, for his part, argued on Tuesday that China is making a “big mistake” that dares to react. “What do we lose if China imposes duties on us? We export one fifth of what they export to us, so this is a lost lot for them. ” added.