FLASH
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President Donald Trump has threatened to "impose an additional 50% tariff on China" if Beijing does not withdraw retaliatory tariffs of 34% on American goods.
"If China does not withdraw its abusive 34% tariff on American goods by tomorrow, April 8, 2025, the United States will impose additional tariffs on China of 50%, starting April 9," Trump wrote in a post on social media.
The US president also warned that "all talks with China regarding requested meetings with us will be terminated!"
"Negotiations with other countries, which have also requested meetings, will begin immediately," he added.
"China's action came 'despite my warning' that any country that does not comply with the new US tariffs 'will immediately face new and significantly higher tariffs beyond those originally imposed,'" Trump wrote on Social Truth.
Trump's chief economic adviser Kenin Hassett's report that tariffs are being "frozen" on everyone but China for 90 days sent Wall Street on a rollercoaster ride, from big losses to big gains in a matter of minutes.
However, the statement from Hassett was denied by the White House as fake news, causing stock market indices to fall again, according to CNBC.
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