Trump Raises China Tariffs, Market Reacts Sharply

President Trump has escalated his tariff strategy against China, raising tariffs to 104% and tripling levies on low-cost parcels, in response to China's anticipated retaliation. This marks a significant increase from the previously announced 34% tariffs on Chinese goods. The move has contributed to uncertainty in U.S. markets, as evidenced by sharp declines in major stock indexes following the tariff announcements. Megyn Kelly expressed support for Trump's approach, urging Americans to remain patient, citing his previous economic successes and early signs of negotiations with nearly 70 countries for new trade deals. Despite the market turmoil, Kelly highlighted potential positive outcomes from the tariff policies, such as increased competitiveness for U.S. shrimpers and a crackdown on fentanyl trafficking from Mexico. Analysts and commentators continue to debate the long-term implications of these tariffs on the U.S. economy.