Live updates: China retaliates as new US tariffs go into effect

What to Know

• President Donald Trump’s sweeping tariffs went into effect at midnight ET, including a total of 104% on goods from China, the White House said.
• China said it was hiking retaliatory duties on U.S. imports to 84% from 34% hours after the new U.S. tariffs went into effect.
• Trump said Tuesday that his administration will “very shortly” announce tariffs on pharmaceuticals.