The United States will levy additional 50% tariffs on China starting Wednesday if China doesn't withdraw its plans for a 34% retaliatory duty, President Donald Trump said in a Truth Social post Monday.
China has until Tuesday to back down from new tariffs on U.S. imports that are currently set to go into effect on Thursday, according to Trump. China unveiled the duties following Trump's announcement last week of 34% tariffs against the country as part of a reciprocal trade strategy, escalating the two nations’ ongoing trade war.
"Additionally, all talks with China concerning their requested meetings with us will be terminated!" Trump said in the post. "Negotiations with other countries, which have also requested meetings, will begin taking place immediately."
Trump warned in his post that any country that retaliates against the U.S. with additional tariffs will face "new and substantially higher" duties over those initially set by his administration. Country and region-specific tariffs against nearly 60 U.S. trading partners including China, the European Union and Japan will take effect Wednesday, following a 10% universal baseline duty implemented on Saturday.
The U.S.’ trade relationship with China continues to face scrutiny under the Trump administration. It finalized a trade policy review last week saying China has not lived up to its side of a 2020 trade deal between the two countries.
China, meanwhile, has levied tariffs this year on various U.S. agricultural products in addition to certain car, equipment and energy imports following previous actions from the Trump administration. It has also rolled out export controls on 16 U.S. entities and placed 11 U.S. companies on its “Unreliable Entity List.”
