Trump promised additional tariffs of 50% on top of those already announced on goods from China if Beijing does not abandon retaliatory measures.
"Yesterday, China imposed retaliatory tariffs of 34% — on top of already record-high existing tariffs, non-monetary barriers, illegal subsidies for companies, and large-scale long-term currency manipulation, despite my warning that any country that responds to the U.S. with additional tariffs — beyond the already existing long-term trade abuses against our country — will immediately face new and significantly higher tariffs, in addition to those already in place.
Thus, if China does not withdraw its increase of 34% — above the already existing long-term trade abuses — by tomorrow, April 8, 2025, the United States will impose ADDITIONAL tariffs against China of 50%, starting April 9.
Moreover, all negotiations with China regarding their requested meetings will be immediately terminated! Negotiations with other countries that have also requested meetings will begin without delay,” Trump wrote on his social network Truth Social.
Meanwhile, the American stock market continues to be volatile. It slightly regained losses amid rumors that Trump may suspend tariffs for 90 days for all countries except China.
After the news was denied at the White House, the market dropped again.$BTC