Washington: US President Donald Trump said Monday he’s ready to slap new 50 pc tariff on China following Beijing’s retaliatory duties announced last week, further escalating the global trade war that has rattled markets, media reports said.
He said the additional tariffs would take effect midweek if China doesn’t remove its 34% retaliatory tariff by Tuesday, the CNN reported.
He also said meetings China had requested would be cancelled, though he said other countries would begin negotiating on trade immediately.
“Yesterday, China issued retaliatory tariffs of 34%, on top of their already record-setting tariffs, non-monetary tariffs, illegal subsidisation of companies, and massive long-term currency manipulation, 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,” Trump wrote on Truth Social.
“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,” he went on.
“Additionally, all talks with China concerning their requested meetings with us will be terminated! Negotiations with other countries, which have also requested meetings, will begin taking place immediately. Thank you for your attention to this matter!”
According to reports, since returning to power in January, Trump had already levied two tranches of 10% additional duties on all Chinese imports, which the White House said was necessary to stem the flow of illicit fentanyl from the country to the US.
Last week, Trump announced an additional 34% on all Chinese goods, which is set to take effect Wednesday. If his latest threat of an additional 50% went into effect, Chinese goods arriving in the US would effectively be subject to tariffs of 104%, the report said.
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