US President Donald Trump on Monday threatened to slap an additional 50% tariff on China if Beijing fails to roll back its retaliatory duties on American goods. In a post on Truth Social, Trump declared that “all talks with China concerning their requested meetings with us will be terminated”. He added that negotiations with other countries seeking meetings would begin immediately, signaling a hardline stance as trade tensions continue to escalate.
“Yesterday, China issued Retaliatory Tariffs of 34%, 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. Therefore, if China does not withdraw its 34% increase above their already long term trading abuses by tomorrow…the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th,” the US President posted.
(This is a developing story. More details to follow)