“If China doesn’t drop the tariffs by Tuesday, they get 50%,” Trump posted on Truth Social, threatening to halt ongoing talks.
Donald Trump has warned China of an additional 50% tariff on its goods if Beijing does not withdraw its newly imposed 34% counter-tariff, deepening fears of a global trade war.
China’s retaliation followed Trump’s sweeping 34% levy last week under his “Liberation Day” policy, which applies at least a 10% tariff on most US trading partners.
“If China doesn’t drop the tariffs by Tuesday, they get 50%,” Trump posted on Truth Social, threatening to halt ongoing talks.
China condemned the threat, calling it “a mistake on top of a mistake,” and vowed never to accept the US’s “blackmail nature.”
The total tariff on Chinese imports could rise to 104%, including previous 20% and 34% levies.
Global stock markets plunged in response, with Hong Kong’s Hang Seng index suffering its worst fall since 1997.
“America first,” Trump insisted, adding that permanent tariffs and fair negotiations were both possible.
Beijing warned: “Threatening China is not the right way to engage.”