Trump issues threat to China with additional 50 percent tariff
(MENAFN) President Donald Trump has warned China that the US will impose an additional 50% tariff on all Chinese imports unless Beijing withdraws its proposed 34% tariff hike in retaliation to previous US duties. Trump announced this threat on Monday, stating that the new tariffs would take effect on April 9, 2025, if China does not back down. He also indicated that the US would cancel planned talks with China and shift its focus to negotiations with other nations.
This warning comes after Trump imposed sweeping tariffs on imports from all countries, including a further 34% duty on Chinese goods, raising the total tariff to 54%. In response, Beijing condemned the tariffs as “economic bullying” and warned that they would hurt not only the US but also other countries, particularly developing nations, and disrupt global trade. China has also filed a complaint with the World Trade Organization (WTO) and imposed new restrictions on American firms and rare-earth mineral exports, which heavily impact the US.
The intensifying trade dispute has caused significant volatility in global financial markets, erasing more than $10 trillion in equity values as of Monday.
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