WASHINGTON – President Donald Trump threatened additional tariffs on China on Monday, raising fresh concerns that his drive to rebalance the global economy could lead to a trade war.
Trump’s threat, which he delivered on social media, came after China said it would retaliate against U.S. tariffs announced last week.
βIf China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th,β he wrote on Truth Social. “Additionally, all talks with China concerning their requested meetings with us will be terminated!
Trump has remained defiant as the stock marketΒ continued plungingΒ and fears of a recession grew.
βBe Strong, Courageous, and Patient, and GREATNESS will be the result!β he wrote.
The Dow Jones Industrial Average dropped 1,200 points as trading began on Monday morning, and the S&P 500 was on track to enter a bear market, which means falling 20% from a recent high. Even some of Trump’s allies are raising alarms about the economic damage, and financial forecasts suggest more pain on the horizon for U.S. businesses, consumers and investors.
The Republican president has insisted his tariffs are necessary to rebalance global trade and rebuild domestic manufacturing. He accused other countries of βtaking advantage of the Good OLβ USA!β on international trade and said βour past βleadersβ are to blame for allowing this.β He singled out China as βthe biggest abuser of them allβ and criticized Beijing forΒ increasing its own tariffsΒ in retaliation.
