President Trump recently made changes to an executive order to increase tariffs on China by 50%, making the total new import fees on the US adversary reach 104%.

These new tariffs were put in place as a response to China imposing a 34% duty on US goods, which came after Trump’s announcement of reciprocal tariffs on around 90 countries based on their trade imbalances with the US.

Trump stated, “I am ordering modification of the Harmonized Tariff Schedule of the United States (HTSUS) and taking other actions to increase the duties imposed on the [People’s Republic of China] in response to this retaliation.”

“In my judgment, this modification is necessary and appropriate to effectively address the threat to the national security and economy of the United States,” he added.

The president’s amended executive order also raises tariffs on de minimus shipments from China.

The duty on de minimus products – cheap goods valued at less than $800 – will rise from 30% to 90% under Trump’s retaliatory measures.

This is a developing story. Check back for more information.