Defiant Trump threatens more tariffs on China, markets plunge

WASHINGTON: Undeterred by a stock market collapse that has continued for days, 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.

- 

"Be Strong, Courageous, and Patient, and GREATNESS will be the result!" he wrote on Truth Social, his social media platform.

He accused other countries of "taking advan-tage of the Good OL' USA" said "our past 'leaders' are to blame for allowing this."

Trump also called on the Federal Reserve to lower interest rates.

Trump's threat to China, which he delivered on social media, came after Beijing said it would retaliate against UStariffs he announced last week.

"If China does not withdraw its 348 increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th," he wrote on Truth Social. "Additionally, all talks with China concerning their requested meetings with us will be terminated!"

If Trump implements his plans, US tariffs on imports from China would reach a combined 1048.

The new taxes would be on top of the 20% tariffs announced as punishment for fentanyl trafficking and his separate 348 tariffs announced last week. Not only could that increase prices for American consumers, it could give China an incentive to flood other countries with cheaper goods and seek deeper partnerships with other trading partners.