President Trump on Monday defended his aggressive tariff strategy as markets reeled and recession concerns mounted.
In a post on Truth Social, he warned that the U.S. would slap an additional 50% tariff on Chinese imports if Beijing doesn’t reverse its plan to impose a retaliatory 34% tax on American goods.
“Any country that retaliates with new tariffs beyond their long-standing trade abuses will face immediate and significantly higher tariffs,” Trump wrote. He set a deadline of April 8 for China to drop its planned tax hike, or face the new U.S. tariffs starting April 9.
This threat follows Trump’s April 2 announcement of “reciprocal tariffs” on imports from roughly 90 countries, building on an existing 10% global tax. He described the move as a step toward correcting persistent trade imbalances, calling it “Liberation Day.”
In response to the U.S. tariffs, China said it will implement its 34% tax on all U.S. imports beginning April 10.
The escalating trade war has rattled financial markets, with experts warning it could slow growth or even spark a recession. Since tariffs are typically paid by U.S. importers, costs often get passed to consumers, raising concerns about renewed inflation.
