The US president has demanded that Beijing rescind its retaliatory 34% levies on American imports
President Donald Trump has threatened to slap an additional 50% tariff on all Chinese imports, unless Beijing recalls its proposed retaliatory 34% levy hike in another escalation of the trade war that has wiped trillions of dollars from stock markets.
Last week, the US president rolled out sweeping tariffs ranging from 10% to 49% on imports from all countries. These included a further 34% duty on imports from China, on top of the existing 20% enacted in the months prior. Beijing has announced it will retaliate with a 34% levy hike on US goods by Thursday.
“If China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9,” Trump wrote on Truth Social on Monday. The US president also threatened to cancel all scheduled talks with China, and instead begin “negotiations with other countries.”
Beijing has condemned the tariffs as a “typical move of unilateralism, protectionism and economic bullying.”
“It will hurt the US itself as well as others,” Chinese Foreign Ministry spokesperson Lin Jian said at a press conference on Monday. Washington’s levies will hit developing countries especially hard, and will also disrupt global trade and logistics, he added.
China has lodged a complaint with the World Trade Organization in response to the US tariffs.
Additionally, the Chinese Commerce Ministry has imposed new restrictions aimed at American firms, as well as restrictions on the export of domestic rare-earth minerals. Currently, the US obtains some 70% of the rare-earths it imports from China.
The escalating trade war between the two superpowers has led to market turbulence and wiped out more than $10 trillion from global equity markets as of Monday, according to Bloomberg.
My name is Steve Allen and I’m the publisher of ThinkAboutIt.news and ThinkAboutIt.online. Any controversial opinions in these articles are either mine alone or a guest author and do not necessarily reflect the views of the websites where my work is republished. These articles may contain opinions on political matters, but are not intended to promote the candidacy of any particular political candidate. The material contained herein is for general information purposes only. Commenters are solely responsible for their own viewpoints, and those viewpoints do not necessarily represent the viewpoints of Steve Allen or the operators of the websites where my work is republished. Follow me on social media on Facebook and X, and sharing these articles with others is a great help. Thank you, Steve
Pete Hegseth is conducting a poll among the public about renaming the agency he heads as the Department of War US Defense Secretary Pete Hegseth has mooted the possibility of renaming the Department of Defense […]
Audi is holding back vehicles that fall under the new tariffs, according to a report German carmaker Audi is halting deliveries of its vehicles to the US due to the new tariffs on automobiles imposed […]
The right-wing party has garnered 24% of support, according to a survey by the INSA institute Support for the right-wing Alternative for Germany (AfD) party has reached parity with the country’s conservative CDU/CSU alliance, according […]
Be the first to comment