Trump threatens China with additional 50% tariffs
US President Donald Trump has threatened to impose additional tariffs of 50% on China starting April 9.
He wrote about this on the social network Truth Social, Censor.NET reports.
"Yesterday, China imposed 34 percent tariffs in retaliation for its already record-breaking tariffs, non-monetary tariffs, illegal subsidies to companies, and massive long-term currency manipulation, despite my warning that any country that retaliates with additional tariffs on existing long-term tariff restrictions on our country will face new, significantly higher tariffs that exceed those originally imposed," Trump said.
That is why the US president is demanding that China cancel its 34 percent tariffs by April 8. Otherwise, the United States will impose additional tariffs of 50% starting April 9.
In addition, according to Trump, the United States will stop negotiations on China's requests for meetings to discuss tariffs. While negotiations with other countries on tariffs will begin immediately.
Trump imposed tariffs
As a reminder, Trump signed a decree imposing a minimum 10 percent tariff on almost all goods entering the United States. For some countries, the tariffs are higher. In particular, China - 34%, the European Union - 20%.
Later it became known that Trump had declared a state of emergency in the country's economy.
The U.S. tariffs also affected Ukraine, with the U.S. imposing 10 percent duties on its goods.
China has announced that it will impose 34 percent duties on all American goods in response.
At the same time, the Ministry of Economy of Ukraine believes that there are chances to negotiate other terms of trade with the United States. In addition, Economy Minister Yulia Svyrydenko assured that the US duty would not affect the exchange rate or food prices in Ukraine.
