President poised to further impose taxes after Beijing announced a 34% tariff on US imports as global markets fall<\/p>\n\n\n\n
Donald Trump<\/a> has threatened to impose an additional 50% tariff<\/a> on imports from China<\/a> on Wednesday unless the country rescinds its retaliatory tariffs on the United States by Tuesday.<\/p>\n\n\n\n The news comes on the third day of catastrophic market falls around the globe since Trump announced his trade war last Wednesday with tariffs on the US\u2019s trading partners.<\/p>\n\n\n\n As part of that move the White House announced it would impose a\u200234% tariff on Chinese imports<\/a>. In response, Beijing announced a\u200234% tariff on US imports<\/a>.<\/p>\n\n\n\n In a statement<\/a> on Truth Social on Monday morning, the US president said that China enacted the retaliatory tariffs despite his \u201cwarning that any country that Retaliates against the U.S. by issuing additional Tariffs\u201d would be \u201cimmediately met with new and substantially higher Tariffs, over and above those initially set\u201d.<\/p>\n\n\n\n \u201cIf China<\/a> does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th,\u201d Trump wrote.<\/p>\n\n\n\n \u201cAdditionally, all talks with China concerning their requested meetings with us will be terminated!\u201d he added. \u201cNegotiations with other countries, which have also requested meetings, will begin taking place immediately.\u201d<\/p>\n\n\n\n China\u2019s US embassy said on Monday it would not cave to pressure or threats over the additional 50% tariffs. \u201cWe have stressed more than once that pressuring or threatening China is not a right way to engage with us. China will firmly safeguard its legitimate rights and interests,\u201d Liu Pengyu, an embassy spokesman, told Agence France-Presse.<\/p>\n\n\n\n A senior White House official told ABC News<\/a> that the increased tariffs on China would be on top of the 34% reciprocal tariff Trump announced last week and the 20% already in place.<\/p>\n\n\n\n Trump\u2019s new ultimatum to China marked the latest escalation from the White House and came as<\/a> US stocks swung in and out of the red on Monday morning as a report circulated that Trump was going to pause the implementation of his sweeping tariffs for 90 days, but then was quickly dismissed by the White House as \u201cfake news<\/a>\u201d.<\/p>\n\n\n\n Not long after Trump threatened China with additional tariffs on Monday morning, he participated in a White House visit from the Los Angeles Dodgers<\/a> to celebrate their World Series title.<\/p>\n\n\n\n