US President declares potential 50% tariffs if China does not rescind planned increases in trade fees.
US President
Donald Trump has issued a warning regarding significant additional tariffs on imports from China, contingent upon the country's decision to withdraw its recent plan for retaliatory economic measures.
In a post on the social media platform Truth Social, Trump announced that if China does not retract a proposed 34 percent increase in tariffs by April 8, 2025, the United States would respond with an additional 50 percent tariff on Chinese goods, set to take effect on April 9.
This threat follows recent developments in the ongoing trade dispute between the two nations.
Last week, the Trump administration declared a new 34 percent levy on products from China, resulting in an overall tariff rate of 54 percent for this year.
The economic implications of Trump's latest warning have yet to be understood, particularly in light of the existing tariffs set to come into effect.
In response to US trade policies, China has announced its own series of countermeasures, including the implementation of export controls on rare earth elements, which are critical for various industries and technologies.
Additionally, the Chinese government has planned a 34 percent tariff on US goods, further escalating the trade tensions between the two countries.
These tariffs are scheduled to commence on April 10.
On his social media platform, Trump criticized China's trade practices, referring to their economic strategies as involving 'non-monetary tariffs' and 'illegal subsidization of companies.' He indicated that the United States would terminate ongoing discussions with China concerning their requests for meetings.
In contrast, Trump mentioned that negotiations with other countries that have requested discussions would begin immediately, signaling a potential shift in the US's trade engagement strategy amid rising tensions with Beijing.