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.
In a lengthy statement, The Donald raged on social media:
China issued retaliatory tariffs of 34 per cent, on top of their already record setting tariffs, non-monetary tariffs, illegal subsidisation 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 per cent increase above their already long term trading abuses by tomorrow, 8 April 2025, the United States will impose ADDITIONAL tariffs on China of 50 per cent, effective 9 April. 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.
Shots fired! Will Xi Jinping back down – or return with his own counter-threat? Watch this space…
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