Donald Trump has threatened to impose an additional 50 percent rate on goods from China, if Beijing does not withdraw his retaliation levy on American goods.
The US President announced the plan on his social media platform, Truth Social.
“If China does not take up his rise of 34% above their already long -term trade abuse by tomorrow, April 8, 2025, the United States will impose extra rates on China of 50%, from April 9,” wrote President Trump.
“Moreover, all conversations with China about their requested meetings will be terminated with us! Negotiations with other countries, who have also requested meetings, will start immediately,” he said.
Beijing has not yet commented on the US president’s plan.
Since the return to presidency, Mr Trump has imposed an additional 20 percent levy on Chinese import about his alleged role in the Fentanyl Supply Chain.
A new levy of 34 percent on the land products will kick on Wednesday, which brings the added rate to 54 percent this year.
The White House confirmed that the total rate percentage for Chinese goods that arrive in the US would be 104 percent on Wednesday, AFP News Agency reported.
While the worldwide markets lost trillions in value on Monday, US President Bullish remained about his rate policy.
“Be strong, courageous and patient, and greatness will be the result!” He wrote on Monday on Truth Social, US Time.
Markets around the world fell sharply on Monday, but most stopped downs in the midst of reports that the US considered a 90 -day break over all rates.
After the White House had rejected the reports as “fake news”, the markets continued to lose value.
All European markets closed in red. The Pan-European Stoxx 600 fell by 4.5 percent, which marked the lowest close in 14 months.
Shares in Taiwan fell by 10 percent – the largest percentage decrease in one day ever.
China’s Shanghai Composite Index (SCI) drops by 7 percent – the worst day in five years.
Hang Seng van Hong Kong, the Japanese Nikkei and the Kopsi of Zuid Korea all ended the day well in the red.
Last Friday, President Trump said that China was “in panic” by introducing the mutual rate on American goods.
China has also announced checks on rare earth elements, restrictions on importing specific American companies and launched a lawsuit against the tariff plans of America at the World Trade Organization.
A radical rate of 10 percent for all goods from US trading partners came into effect on Saturday, with further taxes that start in the US on Wednesday.
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