Stock markets around the world continue to plummet but Donald Trump has his mind on other matters: his tariff war with China. The American president has this afternoon hit back at Beijing’s announcement on Friday that it would impose retaliatory tariffs of 34 per cent on US goods following Trump’s ‘Liberation Day’ levies last week. Unleashing a fiery tirade on Truth Social today, Trump has fumed that if Xi Jinping does not withdraw his tax increase, the US will impose ‘additional tariffs on China of 50 per cent’ and terminate all scheduled talks with foreign power. Talk about pulling no punches, eh?
Last Wednesday, the White House said it would impose specific reciprocal tariffs on the ‘worst offenders’ around the world – targeting China with levies that would, in addition to earlier taxes, total 54 per cent. But the US leader’s latest threat could, if Trump follows through with it, see tariffs imposed on Jinping’s country top a whopping 100 per cent.
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