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In a rapid statement, U.S. President Donald Trump announced that new tariffs on China will increase to 104% starting April 9. Trump explained that the United States will cease any negotiations with the Chinese side following their request for new meetings, noting that any country that responds with counter-tariffs will face harsher American measures.

In the same context, Trump urged the U.S. Federal Reserve to take urgent action to lower interest rates, in support of the national economy amid these accelerating developments. He pointed to the necessity for the central bank to move quickly to reduce the impact of escalating trade tensions.

Simultaneously, the Federal Reserve is holding an extraordinary meeting to discuss the possibility of taking emergency economic measures, with increasing expectations of an early decision regarding interest rate cuts, in an effort to protect the U.S. economy from the repercussions of the trade dispute with China.