Trump threatens to raise tariffs on China by 50% more and freeze talks with Beijing
Meanwhile, Japanese Prime Minister Shigeru Ishiba expressed his willingness on Monday to meet with the American president to address the tariff issue.
Chinese President Xi Jinping and U.S. President Donald Trump attend their bilateral meeting.
President Donald Trump threatened Monday to impose massive additional tariffs on imports from China if Beijing does not withdraw its retaliatory plans, adding that Washington will start negotiations with other countries if they want to do so.
"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," Trump wrote in a post on Truth Social.
The U.S. president also commented that he will cancel all talks requested by China if they do not comply with his demand.
Trump defends tariffs
Trump's statements come after he defended his tariff barrage hours earlier. "Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION," the president reflected on social media.
The Fed was scheduled to meet Monday behind closed doors to "review and determine" rates. Trump's words are known shortly after the opening of the international stock markets, with drops in Asia and Europe of as much as 13%.
Trump highlighted in his post that "the long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place."
He also took aim at China, which he singled out for "long term Tariff abuse of our Nation." Beijing responded to the 34% levies on its imports with tariffs of the same percentage. The Republican assured that the new taxes from China are an example of its "long term trading abuses."
Tariffs: Japan shows its willingness to meet with Donald Trump
Japanese Prime Minister Shigeru Ishiba said Monday he is willing to meet with President Trump to discuss the imposition of tariffs against the country and has avoided talk of "retaliation" in the context of the trade war.
"We are considering all options before determining what would be most effective in addressing this issue," Ishiba said during a parliamentary committee.
Thus, he has stressed that he is available for a meeting with Trump "as soon as possible," whom he seeks to urge to "rethink" the tariff measures adopted.
Trump confirmed Japan's willingness to negotiate with the U.S. through a social media post.
RECOMMENDATION
LATEST
