President Trump shows no indication of backing off the trade wars he is starting, threatening to levy an additional 50% tariff on China as early as Tuesday.

In response to the US levying a 34% “reciprocal tariff” on China, Beijing is threatening a 34% “retaliatory tariff.” Trump responded on his Truth Social account, saying China has until Tuesday to roll back the retaliatory tariff, or face an additional 50% tariff.

Yesterday, China issued Retaliatory Tariffs of 34%, on top of their already record setting Tariffs, Non-Monetary Tariffs, Illegal Subsidization of companies, and massive long term Currency Manipulation, despite my warning 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. 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. Additionally, all talks with China concerning their requested meetings with us will be terminated! Negotiations with other countries, which have also requested meetings, will begin taking place immediately. Thank you for your attention to this matter!

Markets are already reeling as a result of Trump’s tariffs, with his second term on the verge of experience the single biggest stock market drop of any presidency in decades. Additional tariffs on China are likely to exacerbate the situation even more, and will likely lead to even further drops.