China’s ministry of finance said today it will impose a tariff of 84% on U.S. goods from tomorrow, up from the previously announced 34%. Asian markets plunged, with Japan’s Nikkei down over 3%, Hong Kong falling 3%, and Taiwan dropping 5.8%. The sell-off came as Trump’s new 104% tariff on Chinese goods took effect, wiping trillions from global markets. China’s foreign ministry promised “resolute and forceful” countermeasures. Beijing has already announced 34% additional tariffs on U.S. imports starting April 10.