Donald Trump
Source: Africa Publicity
In a latest escalation of trade tensions, US President Donald Trump has warned China of imposing additional 50% tariffs if Beijing doesn’t withdraw its 34% retaliatory tariffs on US goods.
The move could lead to a staggering 104% tax on certain goods imported from China, further straining trade relations between the two nations.
Background
China recently imposed a 34% tariff on US goods in response to Trump’s initial tariffs, which China claims violate World Trade Organization (WTO) rules. The US had imposed tariffs of up to 54% on Chinese goods, citing the need to protect American industries.
Trump’s Ultimatum
In a statement on Truth Social, Trump said, “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 also warned that all talks with China concerning requested meetings would be terminated.
Global Market Impact
The escalating trade tensions have taken a toll on global markets, with US markets dropping sharply on opening. European stock markets, including London’s FTSE 100, have also closed over 4% down. In contrast, the EU has offered “zero-for-zero” tariffs on some goods it exports to the US, seeking to mitigate the impact of the trade war.
China’s Response
China’s foreign affairs spokesman Lin Jian has condemned the US tariffs, accusing the country of “economic bullying.” He warned that pressure and threats are not the way to deal with China, and the country will firmly safeguard its legitimate rights and interests.
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