US President Donald Trump has threatened additional tariffs of 50% on imports from China if Beijing does not withdraw its plans to retaliate. He added that Washington would open talks with other countries if they wished.
"Yesterday, China introduced retaliatory tariffs of 34% on top of the record tariffs already established, the non-monetary tariffs, the illegal subsidization of companies, and the massive long-term currency manipulation, despite my warning that any country that retaliates against the U.S. by imposing additional tariffs above and beyond the long-term abusive tariffs already in place on our nation will be immediately met with new and significantly higher tariffs above and beyond what was originally set," Trump wrote on the social media site Truth.
"Therefore, if China does not withdraw its 34% increase above already established long-term trade abuses by tomorrow, April 8, 2025, the U.S. will impose ADDITIONAL tariffs on China of 50% beginning April 9," the Republican said.
"Furthermore, all talks with China regarding their requested meetings with us will be terminated! Negotiations with other countries that have also requested meetings will begin immediately. Thank you for your attention to this matter!" he added.
On April 3, Trump imposed new tariffs on both US allies and opponents. The Republican's move triggered a sharp drop in stocks in Europe and Asia. Earlier on 7 April, Wall Street trading also began with a sharp plunge in US stocks, with the three major indices down more than 3%. | BGNES
