Trump threatens extra 50% tariff on China, opens door to talks
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President Trump at the White House. Photo: Andrew Harnik/Getty Images
President 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 import levies.
Why it matters: The administration's steadfast 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.
- Stock markets remained mostly lower in late trading, after a frenetic morning where a false rumor of a tariff pause caused global markets to briefly skyrocket.
Driving the news: Trump threatened the new levies on China in a social media post slamming the country for its counter-tariffs on U.S. exports.
- "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!" Trump wrote.
- 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.
The other side: "Tariff blackmail will not intimidate China, nor will it undermine justice," state-backed English-language media outlet Global Times wrote in an editorial. "Pressuring and threatening are not the right way in dealing with China."
Zoom out: While escalating tensions with China, Trump 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.
- Over the weekend, administration officials said more than 50 nations had requested a meeting.
- Later Monday, Treasury Secretary Scott Bessent posted on X that Trump had asked him and U.S. Trade Representative Jamieson Greer to open trade negotiations with Japan.
Editor's note: This story has been updated throughout with additional information.
