President Donald Trump has let rip his 'war with the world' as his global tariffs have gone into effect. In the hours leading up to the massive financial shock, Trump showed no willingness to back down, and was instead gloating about how other countries were coming to the U.S. to beg. Trump escalated his trade war Tuesday - by announcing a 104 percent tariff on China would go into effect, after China refused to lift its retaliatory tariffs by Trump's deadine of noon on Tuesday.