09
Apr
Despite rattled financial markets, threats of retaliation and some of President Donald Trump’s biggest supporters encouraging him to back off his signature economic policy, he didn’t give in. His administration piled on heaps of new “reciprocal” tariffs Wednesday on dozens of American allies and adversaries alike, aiming to — as he claims — restore fairness and boost American manufacturing. Goods from China, by far the biggest target, are now subject to at least a 104% tariff. Trump tacked on even higher tariffs than initially announced after Beijing didn’t back off its promise to impose 34% retaliatory tariffs Tuesday. The reciprocal…