U.S. forges ahead with 104% tariffs on China; says it is willing to talk to other countries

The United States said on Tuesday that 104% duties on imports from China will take effect shortly after midnight, even as the Trump administration moved to quickly start talks with other trading partners targeted by President Donald Trump's sweeping tariff plan. China has refused to bow to what it called "blackmail" and has vowed to "fight to the end." European pharma companies, also fearful of the tariff fallout, warned the president of the European Commission, Ursula von der Leyen, in a meeting that Trump's tariffs would expedite the industry's shift away from Europe and towards the United States.