President Trump threatens to impose an additional 50% tariff on China

President Trump on Monday said the U.S. will apply an additional 50% tariff on imports from China if the Asian nation doesn't withdraw its plan to impose a retaliatory 34% import fee on American products.

In a post on his Truth Social app, Mr. Trump said that "any country that retaliates against the U.S. by issuing additional Tariffs, above and beyond their already existing long-term Tariff abuse of our Nation, will be immediately met with new and substantially higher Tariffs, over and above those initially set."

He added, "Therefore, if China does not withdraw its 34% increase above their already long-term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th."

On April 2, Mr. Trump announced so-called reciprocal tariffs on imports from about 90 nations, adding to a 10% global tax applied to all products shipped to the U.S. Describing the announcement as "Liberation Day," the president said the new taxes are needed to erase trade imbalances between the U.S. and other countries, ranging from China to members of the European Union. 

In response to Mr. Trump's imposition of a 34% tariff on Chinese imports, which is set to go into effect on April 9, Beijing last week announced it would add a 34% tariff on imports of all U.S. products beginning April 10. 

If Mr. Trump implements his plans, U.S. tariffs on imports from China would reach a combined 104%. The new taxes would be on top of 20% tariffs aimed at spurring China to crack down on fentanyl trafficking and his separate 34% tariffs announced last week. 

Last year, the U.S. imported about $439 billion worth of goods from China, ranging from Apple iPhones to clothing, according to data from the U.S. Trade Representative.

Excluding the threat of an added 50% levy on Chinese imports, American consumers could face higher costs of about $3,789 per year due to the previously announced tariffs, according to an analysis from the Yale Budget Lab. 

Consumers generally bear the brunt of tariffs because importers like Walmart, which must pay the import duties when they accept shipments from other nations, typically seek to spread all or most of the cost through higher price tags on imported goods. Because of those dynamics, many economists say inflation is likely to reignite this year.

Wall Street has been spooked by Mr. Trump's growing trade war, with economists warning that the conflict could slam economic growth and even potentially trigger a recession. 

In his social media post threatening to add new tariffs to China, Mr. Trump added that he plans to start negotiations with other nations "immediately."

In a separate Truth Social post on Monday, Mr. Trump also said he spoke with Japanese Prime Minister Shigeru Ishiba to start trade negotiations. He complained, "they have treated the U.S. very poorly on Trade" and "they don't take our cars, but we take MILLIONS of theirs."

White House trade adviser Peter Navarro suggested countries would need to do much more than simply lower their own tariff rates to reach deals, saying they would have to make structural changes to their tax and regulatory codes.

"Let's take Vietnam," he said on CNBC. "When they come to us and say, 'We'll go to zero tariffs,' that means nothing to us because it's the non-tariff cheating that matters."

More Stories About US Tariffs:

A timeline of US-China tit-for-tat tariffs since Trump’s first term

From timber to tech: How the new tariffs could hit your wallet

Stock market dips amid new tariffs: What it could mean for Oklahomans

Fireworks dealer: Tariffs to increase costs for July 4th celebrations