WASHINGTON — Amidst the ongoing declines in global stock markets, President Donald Trump has issued a warning about potential tariff increases on China, set to begin Wednesday. This announcement was made via a social media platform in response to China’s decision to impose a 34% tariff on all U.S. imports.
“If China does not reverse its 34% increase, in addition to their long-standing trading infractions, by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, starting April 9th,” Trump stated on Truth Social. “Furthermore, all discussions with China regarding their proposed meetings will come to an end!”
As reported by the Associated Press, should Trump follow through on this threat, the tariffs on Chinese goods exported to the U.S. would amount to a staggering 104%. Presently, Trump’s tariffs against China include a 20% levy imposed in response to fentanyl trafficking and a 34% tariff announced last week, which is part of a broader set of tariffs on imports from various countries.
Following these tariff announcements, stock markets globally have experienced notable downturns in recent days. In the U.S., the Dow Jones Industrial Average, S&P 500, and NASDAQ indices all faced significant drops at the market’s opening, although they had stabilized by 1:40 p.m. Monday. This followed two days of considerable market declines after Trump’s announcement on Wednesday.
Despite the market turmoil, Trump has maintained his stance, urging Americans to endure the initial financial repercussions of the tariffs.
“Sometimes, you need to take tough medicine to resolve issues,” Trump remarked to reporters on Sunday night.
The White House has announced that Trump will veto a Senate proposal requiring Congressional approval for future tariff impositions. Additionally, they dismissed rumors suggesting that Trump might consider pausing the implementation of the tariffs.
