Tue, 08 Apr 2025

Tue, 08 Apr 2025 Trump threatens new 50% tariffs on China

The US president warns of the extra tax unless China withdraws its own 34% counter-tariff on US goods.

* Donald Trump has threatened China with an additional 50% tariff on goods imported into the US unless it withdraws its 34% counter-tariff.
* Beijing has accused Washington of "economic bullying" and said it will "firmly safeguard its legitimate rights and interests".
* If Trump acts on his threat, US companies could face a total rate of 104% on Chinese imports.
* There are fears that this could deepen a trade war between the world's two biggest economies and global rivals.
* Trump has also announced that he is not considering pausing global import tariffs to allow for negotiations with other countries.
* The Chinese embassy in the US said that pressuring or threatening China is "not a right way to engage".
* Markets worldwide have plunged since Trump announced the global tariffs, with the value of US stock markets dropping sharply again on opening on Monday.
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