Titans collide: US-China trade war escalates

President Trump threatens more tariffs on China as global markets shudder over how much pain economy can take

- AGENCIES

Undeterred by a panicked stock market, President Donald Trump threatened additional tariffs on China on Monday, raising fresh concerns that his drive to rebalance the global economy could intensify a financially destructive trade war.

Trump's threat came after China said it would retaliate against American tariffs he announced last week.

"If China does not withdraw its 34 percent increase above their already long-term trading abuses by tomorrow, April 8, 2025, the United States will impose ADDITIONAL Tariffs on China of 50 percent, effective April 9," Trump wrote on Truth Social.

"Additionally, all talks with China concerning their requested meetings with us will be terminated!"

The American president has shown few signs of backing down on tariffs despite the mounting pressure in the financial markets.

His commitment to tariffs could have devastating effects for the global economy, even though Trump is banking that it will ultimately pay off with manufacturing jobs.

Asked Monday if he would consider a pause on his widespread tariffs, Trump said, "We're not looking at that."

The American president said he was open to negotiations "if we can make a really fair deal and a good deal for the United States."