Trump threatens additional 50 percent tariff on China
President Trump on Monday threatened to impose a 50 percent tariff on imports from China, a massive escalation of a potential trade war between the world's two largest economies.
Trump's threat is the latest tit-for-tat between the U.S. and China in the last week. The White House last Wednesday announced it would impose a 34 percent tariff on Chinese imports as part of "reciprocal" tariffs against dozens of countries.
Beijing responded by announcing a 34 percent tariff on American imports, leading to Trump's warning on Monday.
Trump said in a post on Truth Social that China made the move, "despite my warning that any country that Retaliates against the U.S. by issuing additional Tariffs, above and beyond their already existing long term Tariff abuse of our Nation, will be immediately met with new and substantially higher Tariffs, over and above those initially set."
"Therefore, if China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th," Trump added. "Additionally, all talks with China concerning their requested meetings with us will be terminated!"
Trump said negotiations with other countries would begin taking place "immediately."
The White House had already imposed a 20 percent tariff on Chinese imports over fentanyl concerns, meaning China could face an effective tariff rate as high as 70 percent.