US President Donald Trump has issued a new ultimatum to China, threatening to impose 50% additional tariffs if Beijing does not withdraw its latest retaliatory tariffs.
Trump warned on his Truth Social account that if China maintains its 34% tariff hike on US goods, the US will impose new tariffs starting April 9. The proposed tariff hike has the potential to increase the total tariff rate to 104%, on top of the 20% tariff currently in effect and the 34% reciprocal tariff announced by Trump last week.
“Yesterday, China issued retaliatory tariffs of 34% on top of their already record-high tariffs, nonmonetary barriers, illegal subsidization of corporations, and massive long-term currency manipulation,” Trump said. “If China does not withdraw the 34% increase they imposed on top of their long-standing trade violations by tomorrow, April 8th, the United States will impose additional tariffs of 50% on China, effective April 9th.”
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In addition to the tariff threat, Trump signaled a breakdown in diplomatic dialogue by announcing that all talks with China regarding the meetings they requested would be terminated. “Talks will begin immediately with other countries that have requested meetings,” he added.
A senior White House official confirmed that the proposed 50% tariff would be in addition to the 34% “reciprocal” tariff announced last week and the long-standing 20% tariff. If fully implemented, the cumulative tariffs would represent one of the harshest trade penalties ever imposed by the U.S., the official said.
*This is not investment advice.
Continue Reading: Donald Trump Continues His Tariff Announcements – He Gives Deadline Until April 9, Will Exponentially Increase Tariffs for China
