President Donald Trump's sweeping "reciprocal" tariffs on imported goods will take effect at midnight, with China vowing to "fight to the end" and lawmakers from both parties expressing concerns.In the final hours before the tariffs go into effect, the White House says nearly 70 nations are reaching out to negotiate, encouraging countries to bring their best offers."We're doing very well in making -- I call them 'tailored deals.' Not off the rack; these are tailored, highly tailored deals," Trump said.The president mentioned that South Korea is sending a top team to the U.S. to work on "a great deal for both countries." However, China, the world's second-largest economy, is calling the president's increasing tariffs on their imports a "bullying practice" and hints at more retaliatory tariffs on U.S. goods. The White House argues that China made the mistake of retaliating."When America is punched, he punches back harder. That's why there will be 104% tariffs going into effect on China tonight at midnight," said Karoline Leavitt, White House press secretary.On Capitol Hill, the nation's top trade representative, Jamieson Greer, defended the administration in a Senate hearing. "Many of our markets explain that they are not going to retaliate against the United States," Greer said.Democrats and some Republicans are expressing concerns about the impact tariffs could have on consumers and small businesses across the country."I hope you and the president are very sensitive about companies potentially going bankrupt by these actions," said Sen. Ron Johnson, R-Wis."With your assessment of what Donald Trump said, that families should feel some pain. That's all OK with you all?" asked Sen. Ben Ray Luján, D-N.M."Senator, we're not going to be in a situation where we keep allowing Wall Street to run the economy," Greer responded.The White House says the president is not considering any extensions or delays. Trump believes China wants to make a deal.The White House listed Israel, Japan and South Korea as the top countries making deals on tariffs, saying it will prioritize allies and partners first.
President Donald Trump's sweeping "reciprocal" tariffs on imported goods will take effect at midnight, with China vowing to "fight to the end" and lawmakers from both parties expressing concerns.
In the final hours before the tariffs go into effect, the White House says nearly 70 nations are reaching out to negotiate, encouraging countries to bring their best offers.
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"We're doing very well in making -- I call them 'tailored deals.' Not off the rack; these are tailored, highly tailored deals," Trump said.
The president mentioned that South Korea is sending a top team to the U.S. to work on "a great deal for both countries." However, China, the world's second-largest economy, is calling the president's increasing tariffs on their imports a "bullying practice" and hints at more retaliatory tariffs on U.S. goods.
The White House argues that China made the mistake of retaliating.
"When America is punched, he punches back harder. That's why there will be 104% tariffs going into effect on China tonight at midnight," said Karoline Leavitt, White House press secretary.
On Capitol Hill, the nation's top trade representative, Jamieson Greer, defended the administration in a Senate hearing. "Many of our markets explain that they are not going to retaliate against the United States," Greer said.
Democrats and some Republicans are expressing concerns about the impact tariffs could have on consumers and small businesses across the country.
"I hope you and the president are very sensitive about companies potentially going bankrupt by these actions," said Sen. Ron Johnson, R-Wis.
"With your assessment of what Donald Trump said, that families should feel some pain. That's all OK with you all?" asked Sen. Ben Ray Luján, D-N.M.
"Senator, we're not going to be in a situation where we keep allowing Wall Street to run the economy," Greer responded.
The White House says the president is not considering any extensions or delays. Trump believes China wants to make a deal.
The White House listed Israel, Japan and South Korea as the top countries making deals on tariffs, saying it will prioritize allies and partners first.
