President Donald Trump on Monday threatened to impose an extra 50% tariff on China, but opened the door to talks with other nations on a path to lowering their tariffs.
Trump previously imposed 20% tariffs on China over fentanyl, and then stacked a 34% tariff over trade issues, suggesting the total tariff on Chinese goods could now reach 104% or more.
Trump, who threatened the new levies on China in a post via his own Truth Social, said: “Therefore, if China does not withdraw its 34% 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. Additionally, all talks with China concerning their requested meetings with us will be terminated!”
Meanwhile, the Trump administration’s steady message in recent days has been that the tariffs were coming and there was no way out.
Now, it appears there may be a glimmer of hope especially as stock markets remained lower at midday, after a frenetic morning where a false rumor of a tariff pause caused global markets to briefly skyrocket.
Trump has also opened the door to a possible off-ramp for some of the roughly 60 other nations hit with large reciprocal tariffs.
“Negotiations with other countries, which have also requested meetings, will begin taking place immediately,” Trump wrote.
