Adding to the drastic escalation in the US-China trade tariff war, President Donald Trump on Tuesday threatened China to roll back or "withdraw" the retaliatory 34 per cent tariff it imposed on US goods in 24 hours or face 104 percent retaliatory tariffs.
Trump라이브 바카라 tariff threats came in response to China's recent decision to impose a 34 percent retaliatory tariff on US goods, adding to the already existing tariffs.
Trump's tariff crackdown on China came as he felt that the mere 10 percent tariff till last month "robbed and ripped off" the US economy of billions and billions of dollars as "tariff abuser" Beijing levied a far higher tariff on US goods, as per a report by NDTV.
From 10 Percent To 104 Percent
Adding to the basic 10 percent tariff, during April 2 Liberation Day tariff rollouts, President Trump announced a 34 percent additional tariff on Chinese imports.
Minutes after the announcement, citing a "national emergency" which has stemmed from security concerns due to persistent trade deficits, the White House imposed an additional "baseline" 10 percent tariff on all countries which took China's tariff rate to 54 percent.
The further escalation came as Trump threatened to impose 50 percent additional tariffs on Chinese imports unless Beijing withdraws its retaliatory tariffs by April 8, 2025 which took the total tariff sum to 104 percent.
In a post on TruthSocial, Trump issued a stern warning to China: “If China does not withdraw its 34 percent increase above their already long-term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50 percent, effective April 9th.”
Earlier today, China had responded to President Trump's ultimatum to "withdraw" Beijing's retaliatory move. They called it "blackmail".
According to a report by NDTV, China's commerce ministry said in a statement, "The US threat to escalate tariffs against China is a mistake on top of a mistake, which once again exposes the US's blackmailing nature", while adding, "If the US insists on having its way, China will fight to the end."
Trump's Tariff Spree
Right after assuming the office for his second tenure as the US president, Trump said that he could put 25 percent trade tariffs on Canada and Mexico starting on February. For products from China, Trump announced a levy of 60 percent levy.
In his inaugural address, Trump pledged that tariffs would be imposed and said foreign countries would be paying the trade penalties, even though those taxes are currently paid by domestic importers and often passed along to consumers.
However, a day after pausing planned tariffs for at least a month for Mexico, US President Donald Trump on February 4 agreed to do the same with Canada after a meeting with Prime Minister Justin Trudeau. However, Trump's tariffs against China are still slated to go into effect on Tuesday.
On February 3, Trump paused the tariffs it imposed on Mexico. In a tweet, Claudia Sheinbaum Pardo, President of Mexico in her conversation with USA President Donald Trump said that the tariffs have been paused for a month.
Later, he threatened the European Union with a 200 percent retaliatory tariff on European wine, champagne, and spirits if the European Union went forward with a planned tariff on American whiskey. The European tariff was expected to go into effect on April 1.
Trump has also threatened Canada with new tariffs targeting Canadian lumber and dairy products. Citing Canada's roughly 250% tariff on US dairy exports to the country, President Trump said in an Oval Office address, "Canada has been ripping us off for years on lumber and on dairy products," CNN reported.
Moreover, he doubled his planned tariffs on steel and aluminum products imported from Canada to 50 percent. The move came in response to Ontario's decision to impose a 25 percent tariff on its electricity exports to the United States.
More recently, Trump announced a 25 percent tariff on imports from countries purchasing oil or gas from Venezuela. Taking it to his social media platform Truth Social, Trump announced that Venezuela has been “very hostile” to the US and countries purchasing oil from it will be forced to pay the tariff on all their trade to the US starting April 2.
