 "Double down: Trump dangles 50% additional tariff over China if 34% levy not withdrawn")
US President Donald Trump warned Monday (April 7) that he will slap an additional 50 per cent tariffs on China if Beijing didn’t withdraw 34 per cent levy announced earlier as retaliation to the USA’s reciprocal tariffs.
“Yesterday, China issued Retaliatory Tariffs of 34 per cent, on top of their already record setting Tariffs, Non-Monetary Tariffs, Illegal Subsidization of companies, and massive long term Currency Manipulation, despite my warning that any country that Retaliates against the US 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 his Truth Social media platform.
“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. 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!” he added.
The White House later confirmed that with 50 per cent additional tariffs, the total US levy on Chinese goods would reach a whopping 104 per cent.
White House confirms Trump's tariffs on China to reach 104% with new threatened rate, via @AFP's @beiyis
— Danny Kemp (@dannyctkemp) April 7, 2025
China’s retaliation
China has hit back with 34 per cent tariffs on US goods, responding to the steep 54 per cent duties the US slapped on Chinese imports. It’s a classic tit-for-tat move in this ongoing trade tussle, with both sides ramping up the pressure.
Earlier, China’s state-backed The People’s Daily expressed confidence that the world’s second-largest economy would be able to sustain high tariffs imposed by the US, despite markets facing a bloodbath both in Beijing and Shanghai.
Impact Shorts
More Shorts“The sky won’t fall. Faced with the indiscriminate punches of US taxes, we know what we are doing, and we have tools at our disposal,” it said on Monday.
Chinese officials intensify engagements with US businessmen
Meanwhile, Chinese officials have ramped up their engagements with US businessmen. Reuters reported that Chinese recently met 20 American companies, including Elon Musk’s Tesla, over the weekend to discuss potential disruptions to supply chains due to Trump’s tariffs.
China’s foreign affairs spokesperson also slammed Washington for its abusive tariffs, stating that it amounts to “economic bullying, unilateralism, and protectionism.”
(With inputs from agencies)
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