6 hours ago
Last Updated:April 07, 2025, 21:27 IST
Donald Trump imposed reciprocal tariffs of 34% of all Chinese goods, bringing the total tariff rate to 54%. China retaliated by imposing counter-tariffs of 34% on American goods.
US President Donald Trump (Reuters Image)
US President Donald Trump on Monday threatened huge additional tariffs on imports from China if Beijing did not withdraw its retaliatory 34% tariffs, adding that Washington would begin negotiations with other countries if they wish.
Trump slammed China for issuing retaliatory tariffs despite his warning that any additional tariffs will be immediately met with new and substantially higher tariffs. He said all talks with China will be terminated and negotiations with other countries will begin immediately.
“If China does not withdraw its 34 percent increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50 percent, effective April 9th," Trump said in a Truth Social post.
Global markets plunged Monday after Trump’s sweeping tariffs. The US stock market also suffered after China announced retaliatory tariffs on US goods, escalating a trade war that has rattled investors around the world. However, Trump doubled down on his tariffs and cautioned against “stupid" panic.
Trump had slapped 10% import duties on all nations and far higher levies on imports from dozens of specific countries, including top trade partners China and the European Union.
US-China Trade War
In an earlier post, Trump said, “They’ve (China) made enough, for decades, taking advantage of the Good OL’ USA!", while blaming previous American administrations for enabling what he described as unfair trade practices. Calling China “the biggest abuser of them all," the Republican also claimed Chinese markets were “crashing" in the face of global economic headwinds.
China on Monday accused the United States of unilateralism, protectionism and economic bullying with tariffs. “Putting ‘America First’ over international rules is a typical act of unilateralism, protectionism and economic bullying," Foreign Affairs spokesperson Lin Jian told reporters.
The additional 34% tariffs on a 20% rate imposed on China last month brought the total additional tariffs on imports from the world’s second-largest economy by the Trump administration to 54%. Following China’s retaliatory tariffs, Trump goaded Beijing by saying it had “panicked" and said they “played it wrong".
China previously responded to US tariffs with levies of up to 15 percent on a range of US agricultural goods, including soybeans, pork and chicken. Beijing rejected that the US had suffered losses in international trade and called for “dialogue" to resolve the dispute. “There is no winner in a trade war, and there is no way out for protectionism," it said.
The US and China are each other’s top trading partners, with sales of Chinese goods in the United States totalling over $500 billion last year, which constitutes 16.4% of the country’s exports. However, China has been struggling with a long-running debt crisis in the real estate sector and low consumption that has hampered its economic recovery.
(with agency inputs)
Location :Washington D.C., United States of America (USA)
First Published:April 07, 2025, 21:03 IST
News world Trump Threatens Additional 50% Tariffs On China If Beijing Does Not Withdraw Retaliatory Tax
