Trump halts China talks and demands reversal of retaliatory tariffs
Trump demands reversal of retaliatory tariffs from China
In a dramatic escalation of trade tensions, President Donald Trump announced Sunday that all talks with China will be suspended unless Beijing reverses its latest round of retaliatory tariffs.
The Chinese government last week imposed a 34% duty on all U.S. imports, prompting an aggressive response from the White House, according to the Cryptopolitan.
“If China does not withdraw its 34% increase above their already long-term trading abuses by tomorrow, April 8th, the United States will impose additional Tariffs on China of 50%, effective April 9th,” Trump said in a post on Truth Social.
A renewed trade war with global ripple effects
The Chinese tariffs, which are set to take effect April 10, were introduced after the U.S. levied a 34% tax on Chinese goods last Wednesday. China’s Foreign Ministry called Washington’s move “a typical unilateral bullying practice,” warning that it undermines the foundations of international trade.
Trump’s decision to cancel bilateral talks and threaten a new wave of tariffs has rattled global markets. The yuan has begun to weaken, and analysts fear a new trade war could disrupt supply chains and stall economic recovery efforts.
While Trump has signaled willingness to negotiate with other nations, including Japan, Vietnam, and the European Union, he made clear that no dialogue will proceed with China under current conditions.
In contrast, Beijing appears to be preparing for prolonged tensions. State media urged calm, declaring that “the sky won’t fall” and reaffirming China’s intention to keep its economy open to global partners.
As the world watches closely, the standoff between the globe’s two largest economies threatens to reshape international trade for years to come.
After his 2024 re-election, President Trump deepened his involvement in cryptocurrency. His family’s 60% stake in World Liberty Financial has drawn both support and criticism.
