Not received by the Panic Stock Market, President Donald Trump Monday threatened additional tariffs on China, causing new problems that strive for it Balancing the world economy Can strengthen the financially devastating trade war.
Trump’s threat came after said ChinaThis is avengeAgainst the tariffs on usIt announced last week.
“If China does not give up an increase of 34% above the long -term deals until tomorrow, April 8, 2025, the United States will introduce additional tariffs for China in the amount of 50% on April 9,” Trump wrote on TRTT Social. “In addition, all negotiations with China regarding their requested meetings will be stopped!”
The US president demonstrated several features of refusing tariffs, despite mounting pressure on financial markets. His commitment to tariffs can have devastating consequences for the global economy, although Trump is engaged in the bank, which will eventually pay off for production work.
He asked on Monday if he would pause his widespread tariffs, Trump said, “We don’t look at it.” The US president said he was open for negotiations, “if we can make a really honest deal and a good cause for the US.” Trump added that it is possible to negotiate with other countries and permanent tariffs.
EvenIsraeli Prime Minister Benjamin NetanyahuHe said his country would lead to tariffs against US goods to zero, Trump was useless about removing new import taxes put on the ally. The White House also said on Monday that Trump would veto the Senate bill, which will approve the Congress on the approval of new tariffs, and the bet that the critical mass of the republican legislators would faithfully support it, despite economic and political risks.
However, there are signs of disappointment even among Trump’s allies. Senator John Kennedy, Republican Louisiana, said he supports the president’s targets for the best trade transactions, but is worried about economic uncertainty.
“We do not know whether the medicine will be worse than the disease,” Kennedy said, adding, “This is the economy of President Trump.”
When Trump implements his new import taxes from China, American tariffs for Chinese goods reach joint 104%. New taxes will be at the top of 20% of tariffs announced as a penalty penalty and its individual 34% of the tariffs announced last week. Not only can this increase prices for US consumers, but it can also give China an incentive to sacrifice other countries with cheaper goods and seek deeper relations with other trading partners.
China angrily answered and said he would not back down.
“The US threat to escalating tariffs in China is a mistake except for a mistake, and once again exposes the US blackmail,” the Ministry of Commerce in Beijing said. “China will never accept it. If the US insists on its way, China will fight to the end.”
After the sale on the previous two days of trading, Chain Jones Industrial average decreased by 0.9%on Monday. S&P 500 dropped by 0.2%and Nasdaq The composite increased by 0.1%.
Trump often boasted about the stock market’s profits during his first term, and the threat of loss on Wall -Story was considered as a potential fence on risky economic policy in the second term. But this is not the case, and Trump described the days of financial pain as needed.
“I do not mind to survive this, because in the end I see a beautiful picture,” he said.
Trump’s representatives often performed on television to make a matter on his politics, but none of their explanations reassured the markets. The only improvement occurred withA false reportThis chief economic advisor Kevin Joset said Trump was pausing at all tariffs except China. The rally prices arose before the White House denied that it was true by calling the “fake news”.
The President of the Republicans remained unchanged, despite the concerns that he could push the US to the recession, insisting that his tariffs are necessary to restore domestic production and resetting trade relations with other countries.
But his aggressive impetus overcame the American economic policy. Despite the fact that the inflation remains elevated, Trump has called on the federal reserve system to reduce its landmarks that were increased to restrain the price increase.
The chairman of the federal reserve system Jerome Powell warned on Friday that tariffsmay increase inflationAnd he said, “There is a lot of expectations and visions, including us” before making any decision.
Ursula von der Leyen’s European Commission President said the European Union would focus on trade with other countries except US, saying“Huge opportunities”elsewhere.
Trump said he had talked to Japanese Prime Minister Shiger Isib to start trade talks. He complained about the social truth, “they treated the US very badly into trade” and “They don’t drive with our cars, but we take millions of ours.”
Isaib said Trump said he was “very concerned” that tariffs are hindering Japan’s investments, which has become the world’s largest investor in the US over the past five years. He called the situation as a “national crisis” and stated that his government would negotiate with Washington to urge Trump to revise tariffs.
The White House Trade Advisor Peter Navaro suggested that it would be necessary to make much more than just lower your own tariff rates, which could be negotiations.
“Let’s take Vietnam,” he said at CNBC. “When they come to us and say,” We will go to zero tariffs, “this means nothing to us because it matters not at the price.”
A meeting with Trump at the White House on Monday, Netanyahu stated that his country would remove tariffs and other trade barriers in response to the US, which places 17% of Israel import taxes.
“Israel can serve as a model for many countries that should do the same,” Netanyahu said to the US president.
Trump said he praised “what Netanyahu said. But when asked if he would delete tariffs, Trump said” maybe not “from the assistance of Israel. Last year, the United States had a $ 7.4 billion deficit from Israel.
Trump sought a single front after a chaotic struggle for his first term. However, economic turbulence revealed some fractures among its supporters.
Bill Akman, Head Head Fund, AttacksSecretary of Commerce Howard LutnoOn Sunday as “indifferent to the stock market and economy”.
On Monday, Akman apologized for his criticism, saying that Lutnik, who had previously been the head of the financial firm Cantor Fitzgerald, could take advantage of the tariffs from the bond investment. But the head of the hedge funds also confirmed his concern about Trump’s tariffs.
“I’m just disappointed, watching what I consider to be a major political mistake when our country and the president have reached huge economic progress, which is now at risk of the tariffs,” he wrote further X.
BillionElon MuskTrump’s chief adviser for the Federal Government’s overhaul, expressed skepticism on tariffs last weekend. Musk said the tariffs would increase the costs on TeslaHis electric automaker.
“I hope this is agreedVideo -conference with Italian politicians.
Later said Navaro Fox The news “Sunday morning” that Musk does not understand “the situation.
“He sells cars,” Navarre said. “That’s what he does.” He added: “He just protects his own interests, as any entrepreneur did.”
Originally this story was presented on Fortune.com
https://fortune.com/img-assets/wp-content/uploads/2025/04/AP25097008762952-e1744106364158.jpg?resize=1200,600
2025-04-08 10:02:00
Chris Megerian, Josh Boak, The Associated Press
