The Trump administration, which already closed a trade loophole that allowed cheap goods from China to avoid tariffs, is now tripling the planned levy. Why it matters: Packages valued at less than $800 have enjoyed the "de minimis" exemption from added duties,

The 'de minimis' tax exemption allows duty-free imports on orders that are less than $800. Going forward, Trump will tariff those packages at 30% of their value or $25 per item.

China has raised tariffs to 84% on goods coming from the U.S. in an additional countermeasure. Last week, China said it would levy 34% tariffs on all U.S. goods. On Wednesday, Trump’s tariffs of 104% went into effect on Chinese exports to the U.

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.

China announced it would impose an 84% tariff on U.S. imported goods, up from the initial 34%. This comes after President Donald Trump's 104% tariffs against Chinese goods went into effect.

President Trump said 70 countries have contacted the White House to negotiate deals to lower or erase U.S. tariffs on their goods. It comes as the Trump administration is set to slap 104 percent tariffs on imports from China,

Trump’s sweeping new tariffs took effect on Wednesday, including a combined total of 104% against imports from China. The country retaliated with 84% tariffs on U.S. goods.

China on Wednesday announced a retaliatory tariff on all U.S. imports, bringing the total tariff level to 84%. The measures are a response to President Trump's latest round of tariffs, which went into