Donald Trump threatened China with an additional 50% tariff for goods imported into the US if he did not withdraw counteraction and reiterate that he would not pause at other tariffs as the global markets were breaking down for the third day.
Speaking to the White House on Monday, the US president said he was not considering a pause about new, wide -ranging rates to allow negotiations with other countries.
“We don't look at it. We have many, many countries that come to negotiate deals with us, and there will be fair deals,” he told reporters.
Trump has repeated his threat of an additional 50% obligations on Chinese goods if Beijing did not withdraw his plans to combat rates by Tuesday.
In a publication of his Social media platformThe Truth Social, the US president said he would introduce an additional tariff, unless China withdraws its own 34% counter-tarif for US goods, which it announced on Friday.
Trump said last Wednesday that he would impose a 34% tax on Chinese imports as part of the so -called “Liberation Day”, which put a minimum of 10% fee for almost all trading partners in America.
If he imposed an additional 50%, US companies would pay a total rate of 104% on Chinese imports.
The total amount is already 104%, as it appears at the top of 20%tariffs, which have already been introduced in March, and an additional 34%announced last week.
In his publication on Truth Social Trump, China has introduced its counteraction, “Despite my warning that any country that avenges the US by issuing additional tariffs … will be immediately with new and significantly higher tariffs.”
Speaking of the White House, the US president said there could be both permanent tariffs and negotiations.
He reiterated that he would gather tariffs against China by 50%if Beijing did not take his reciprocal tariffs until noon on Tuesday.
“We have a $ 36 trillion debt for a reason,” he said, adding that the United States will talk to China among other countries to make a “fair deal and a good deal.”
“Now it's America first,” the US President said.
The escalating tensions between the US and China increased fears of a global trade war. Tariffs will come as a major blow to China manufacturers, for which the United States is a key market for export.
Uncertainty about tariffs led to a A stormy day of global stock marketsS
Markets around the world have collapsed since Trump has announced fresh import tariffs for almost all economies.
The value of the US stock markets has again dropped sharply as the largest markets in Europe, including the London FTSE 100, have closed more than 4% down.
The Asian stock indices were worn, with Hong Seng's Hong Kong index fell by over 13%, its largest one-day drop since 1997.
The impact on FTSE 100, S&P 500 in America, Germany Dax and Japan's Nikkei is widely grown.
Trump's post also indicated that negotiations on the terms of the parties would start to be held immediately. “
Trump must meet with Israel's leader, Benjamin Netanyahu, later today. Tariffs are thought to be among the objects that they will discuss.
The President of the United States too Published earlier That Japan was sending a negotiation team to discuss the rates.
And Ursula von der Leyen, President of the European Commission, offered a Trump deal with Zero for zero, although she had previously said she had no revenge.
“We are also ready to answer through counteracting and protect our interests,” she said.