New York, April 8: President Donald Trump has threatened China with an additional 50 per cent tariff that would take the total levies to more than the value of products while doubling down on the global reciprocal tariffs. He wrote on Truth Social on Monday that тАЬif China does not withdraw its 34 per cent increase above their already long-term trading abuses by tomorrow, April 8th, 2025, the US will impose ADDITIONAL Tariffs on China of 50 per cent, effective April 9th". He also said that he would end any negotiations with Beijing on tariffs.

Combined with other tariffs, the total tariffs would zoom to 104 per cent. If neither side blinks in the US-China tariff standoff, levies higher than the cost of the imported products could have a devasting effect on US consumers who rely on China for many everyday things. Trump was reacting to ChinaтАЩs announcement that it was imposing 34 per cent tariffs on US imports, matching the reciprocal levy Trump announced for that country last week.┬аChina Stock Market Suffers Worst Crash Since 2008 Amid Tariff War With US, Hang Seng Drops 12%, CSI 300 Falls 9% After TrumpтАЩs Imposes 34% Tariff on Chinese Imports.

Ruling out any pause in the reciprocal tariffs, Trump told reporters, тАЬWeтАЩre not looking at thatтАЭ. Speaking after a meeting with IsraelтАЩs Prime Minister Benjamin Netanyahu, he said, тАЬI don't mind going through it because I see a beautiful picture at the endтАЭ. TrumpтАЩs threats came as the US stock markets stopped their vertiginous drops last week, with the NASDAQ eking out a 0.1 per cent on Monday, while the broader S&P Index was down only 0.23 per cent.

For a while, there was a green blip when S&P was up 3.4 per cent on rumours that there would be a 90-day pause on the reciprocal tariffs before the White House shot it down and it dropped. Trump asserted, тАЬWe are making tremendous progress with a lot of countries. And the countries that really took advantage of us are now saying, тАШPlease negotiateтАЩтАЭ. Trump said after a phone call with Japanese Prime Minister Shigeru Ishiba that Tokyo was sending a delegation to negotiate.┬аChinese Embassy Mentions Donald Trump's X Account in Post Without Any Context or Comment Day After US President Threatens Additional Tariffs of 50% on Beijing.

Secretary of State Marco Rubio discussed in a call with External Affairs Minister S Jaishankar the reciprocal tariffs on India and тАЬhow to make progress toward a fair and balanced trade relationshipтАЭ, the State Department said. European Union President Ursula von der Leyen offered the US a тАЬzero-for-zero" deal scrapping tariffs on industrial goods, including cars if Trump would reciprocate. тАЬWe're always ready for a good dealтАЭ, she posted on X.

But she warned, тАЬWeтАЩre also prepared to respond with countermeasures. And protect ourselves against indirect effects through trade diversionтАЭ. According to reports, the EU would impose its own reciprocal tariffs in two stages, one next week and another in May. Two Republican Senators, Mike Lee and Ron Johnson, urged Trump in X posts to accept the deal. Although no tariff concession for Israel was announced, Netanyahu said that Israel would eliminate the US trade deficit with his country and suggested that it would be a model for other countries.

(The above story first appeared on LatestLY on Apr 08, 2025 08:45 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).