Trump Warns China of 50% Additional Tariffs Amid Escalating Trade War
The escalating trade war has caused significant turmoil in global stock markets
U.S. President Donald Trump has issued a stern warning to China, threatening to impose an additional 50% tariff on Chinese imports if Beijing does not withdraw retaliatory tariffs on American goods by tomorrow.
Trump emphasized that the U.S. would reject any diplomatic overtures from China while remaining open to trade negotiations with other nations.
Previously, the U.S. imposed a 54% tariff on Chinese imports, prompting China to announce a 34% tariff on all U.S. goods, effective April 10. Trump reiterated his stance against countries imposing counter-tariffs on the U.S., vowing to respond with harsher measures.
The escalating trade war has caused significant turmoil in global stock markets, with major indices in Asia, Europe, and the Middle East experiencing sharp declines.
For instance, Saudi stocks dropped over 800 points, and Pakistan’s KSE-100 index fell by 3,882 points.
China has condemned the tariffs as “economic bullying,” warning of potential countermeasures while accusing the U.S. of violating WTO regulations.
Despite these tensions, Trump remains firm, stating that these measures are necessary for correcting trade imbalances and ensuring fair competition.
