"Talks with China Suspended...
Immediate Negotiations with Other Countries"
U.S. President Donald Trump warned on the 7th (local time) that he would impose an additional 50% tariff on China, which decided to impose retaliatory tariffs on the U.S. in response to mutual tariff measures.
On the same day, President Trump posted on his social networking service (SNS) Truth Social, "If China does not withdraw the 34% (U.S.) tariff, which has long been a trade abuse, by April 8, the U.S. will impose an additional 50% tariff on China starting April 9."
He added, "The day before, China imposed a 34% retaliatory tariff on top of already record tariffs, non-monetary tariffs, illegal corporate subsidies, and large-scale long-term currency manipulation. I warned that for countries imposing additional tariffs in retaliation beyond the existing long-term tariff abuses, the U.S. would immediately impose new tariffs much higher than initially set."
Earlier, on the 2nd, President Trump announced the imposition of mutual tariffs on trading countries worldwide and stated that he would impose an additional 34% tariff on China. Following two rounds of 10% each after his inauguration in January, totaling a 20% additional tariff, the total tariff on China was raised to 54%. When China announced it would impose a 34% tariff on U.S. imports as a retaliatory measure, President Trump threatened further retaliation by imposing an additional 50% tariff. If President Trump's warning materializes, the total additional tariff on China by the U.S. will increase to 104%.
President Trump also declared that all talks with China would be suspended. He stated, "All talks requested by China with us will be terminated," and "Negotiations with other countries requesting meetings will begin immediately."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
