President Trump said on Monday that the United States would apply an additional 50% rate on imports from China if the Asian nation does not withdraw its plan to impose a reprisals 34% import costs on American products.
In an article on his Truth social application, Trump said that “any country that retaliates against the United States by issuing additional prices, beyond their already existing long-term price abuse of our nation, will be immediately welcomed with new prices and significantly higher, beyond those initially defined.”
He added: “Consequently, if China does not withdraw its 34% increase above their trade abuses already in the long term by tomorrow, on April 8, 2025, the United States will impose additional prices on China by 50%, from April 9.”
On April 2, Trump announced that the so-called reciprocal prices on imports of approximately 90 nations, adding to a global tax of 10% applied to all products shipped to the United States describing the announcement like “Release day“The president said the New taxes are necessary to erase commercial imbalances between the United States and other countries, ranging from China to members of the European Union.
In response to Trump’s taxation by a rate of 34% on Chinese imports, which should come into force on April 9, Beijing announced last week that it would add a 34% rate on imports of all American products from April 10.
Wall Street was afraid Through Mr. Trump’s growing trade war, economists warning that the conflict could cause economic growth and even potentially trigger a recession.
Because prices are paid by American importers, they are generally transmitted to consumers in the form of higher price, increasing the probability that inflation revives this year.
– This is news and will be updated.
