Trump threatens additional 50% tariff as stock market plummets

WASHINGTON – Whereas the inventory markets proceed to fall worldwide, President Donald Trump threatened to extend the charges for China from Wednesday. Trump gave his warning through a social media account in response to China’s introduced plan to focus on all American imports by 34%.

“If China doesn’t take up their rise of 34% above their lengthy -term commerce abuse by tomorrow, April 8, 2025, america will impose further charges on China of fifty%, in pressure on April 9,” Trump wrote on Reality Social. “Furthermore, all conversations with China about their requested conferences will probably be terminated with us!”

In accordance with the Related Press, if Trump would proceed with the menace, charges for Chinese language merchandise imported into the US could be 104%. Trump’s present charges on China embrace a price of 20% as a punishment for fentanyl commerce and a price of 34% introduced final week as a part of main charges on items imported from everywhere in the world.

In response to the charges, the inventory markets around the globe have seen nice falls in current days. Within the US, the Dow Jones Industrial Common, the S&P 500 and Nasdaq indexes, every skilled a pointy lower when the markets opened, however had been leveled on Monday from 1:40 pm. That comes after two days of a big fall within the markets after the speed announcement of Trump on Wednesday.

Trump has been difficult whereas the markets are falling, refusing to withdraw and name to People to face up to the early monetary influence of the charges.

“Typically you need to take treatment to restore one thing,” Trump advised reporters on Sunday night.

The White Home has mentioned that Trump will specific a veto a couple of invoice from the Senate that may require the approval of the congress for future charges. The White Home has additionally invalidated a rumor that Trump is contemplating a break over the charges.