Trump Threatens Additional 50% Tariff on China Amidst Ongoing Trade Tensions
The U.S. President signals further tariffs if China does not retract its retaliatory measures by April 8.
President Donald Trump has announced the potential for an additional 50% tariff on Chinese goods if China does not rescind its retaliatory tariffs.
In a post on social media, Trump specified that if China does not retract its current 34% tariff by April 8, a new 50% punitive tariff will take effect on April 9. This would mean that, should he follow through on this threat, the cumulative tariff rate on Chinese products could reach 104%.
In conjunction with the proposed tariffs, Trump indicated that all negotiations requested by China would be halted, although discussions with other countries would proceed.
The White House confirmed his statement, stating that the administration is prepared to implement the new tariffs as outlined by the President.
Last Wednesday, Trump announced plans to impose tariffs on all countries, initially setting a base tariff rate at 10%.
Many nations received higher rates, including China, which was previously subjected to a 20% tariff on all products.
With the addition of the announced 34% tariff, the total current tariff rate on Chinese goods stands at 54%, to which the prospect of an additional 50% tariff could be applied.
These escalating tensions are part of a broader trade dispute between the United States and China, which has been ongoing for several years and has led to significant impacts on international trade dynamics.
In a post on social media, Trump specified that if China does not retract its current 34% tariff by April 8, a new 50% punitive tariff will take effect on April 9. This would mean that, should he follow through on this threat, the cumulative tariff rate on Chinese products could reach 104%.
In conjunction with the proposed tariffs, Trump indicated that all negotiations requested by China would be halted, although discussions with other countries would proceed.
The White House confirmed his statement, stating that the administration is prepared to implement the new tariffs as outlined by the President.
Last Wednesday, Trump announced plans to impose tariffs on all countries, initially setting a base tariff rate at 10%.
Many nations received higher rates, including China, which was previously subjected to a 20% tariff on all products.
With the addition of the announced 34% tariff, the total current tariff rate on Chinese goods stands at 54%, to which the prospect of an additional 50% tariff could be applied.
These escalating tensions are part of a broader trade dispute between the United States and China, which has been ongoing for several years and has led to significant impacts on international trade dynamics.
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