Francis Tuschek<\/p>\n\n\n\n
President Donald Trump has threatened to slap an additional 50% tariff on all Chinese imports, unless Beijing recalls its proposed retaliatory 34% levy hike in another escalation of the trade war that has wiped trillions of dollars from stock markets.<\/p>\n\n\n\n
Last week, the US president rolled out sweeping tariffs ranging from 10% to 49% on imports from all countries. These included a further 34% duty on imports from China, on top of the existing 20% enacted in the months prior. Beijing has announced it will retaliate with a 34% levy hike on US goods by Thursday.<\/p>\n\n\n\n
\u201cIf China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9,\u201d<\/em> Trump wrote on Truth Social on Monday. The US president also threatened to cancel all scheduled talks with China, and instead begin \u201cnegotiations with other countries.\u201d<\/em><\/p>\n\n\n\n Beijing has condemned the tariffs as a \u201ctypical move of unilateralism, protectionism and economic bullying.\u201d<\/em><\/p>\n\n\n\n \u201cIt will hurt the US itself as well as others,\u201d<\/em> Chinese Foreign Ministry spokesperson Lin Jian said at a press conference on Monday. Washington\u2019s levies will hit developing countries especially hard, and will also disrupt global trade and logistics, he added.<\/p>\n\n\n\n China has lodged a complaint with the World Trade Organization in response to the US tariffs.<\/p>\n\n\n\n Additionally, the Chinese Commerce Ministry has imposed new restrictions aimed at American firms, as well as restrictions on the export of domestic rare-earth minerals. Currently, the US obtains some 70% of the rare-earths it imports from China.<\/p>\n\n\n\n The escalating trade war between the two superpowers has led to market turbulence and wiped out more than $10 trillion from global equity markets as of Monday, according to Bloomberg.<\/p>\n","protected":false},"excerpt":{"rendered":" Francis Tuschek President Donald Trump has threatened to slap an additional 50% tariff on all Chinese imports, unless Beijing recalls its proposed retaliatory 34% levy hike in another escalation of the trade war that has wiped trillions of dollars from stock markets. Last week, the US president rolled out sweeping tariffs ranging from 10% to…<\/p>\n","protected":false},"author":1,"featured_media":1276,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[61,65],"tags":[],"class_list":["post-1683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade","category-usa"],"_links":{"self":[{"href":"https:\/\/pacificislands.news\/index.php?rest_route=\/wp\/v2\/posts\/1683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pacificislands.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pacificislands.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pacificislands.news\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pacificislands.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1683"}],"version-history":[{"count":1,"href":"https:\/\/pacificislands.news\/index.php?rest_route=\/wp\/v2\/posts\/1683\/revisions"}],"predecessor-version":[{"id":1684,"href":"https:\/\/pacificislands.news\/index.php?rest_route=\/wp\/v2\/posts\/1683\/revisions\/1684"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pacificislands.news\/index.php?rest_route=\/wp\/v2\/media\/1276"}],"wp:attachment":[{"href":"https:\/\/pacificislands.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pacificislands.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pacificislands.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}