In a dramatic escalation of the ongoing trade war, US President Donald Trump has announced an additional 50% tariff on Chinese goods, less than 48 hours after Beijing retaliated with a 34% hike on American imports. The move takes the total US tariff burden on Chinese goods to an unprecedented 84%, rising further to 94% when including the blanket 10% global tariff recently implemented by the White House.

Trump made the announcement at 11:30 AM US time (9:00 PM IST) on his social media platform, Truth Social, warning that China’s continued tariff retaliation would be met with “substantially higher” countermeasures. “If China does not withdraw its 34% tariff hike by April 8, the United States will impose additional 50% tariffs effective April 9,” he declared.

Accusing China of “decades of tariff abuse, illegal subsidies, and currency manipulation,” Trump reiterated that the US tariffs are simply “reciprocal” in nature. “We are doing to them what they’ve done to us,” he said, emphasizing fairness in global trade.

The US president also threatened to terminate all talks with China, accusing Beijing of attempting to stall negotiations while benefiting from long-standing imbalances. “Talks with China are over. Negotiations with non-retaliating countries will begin immediately,” Trump added.

Global markets reacted sharply to the announcement. Stock indices and oil prices have been tumbling for three consecutive days amid fears of a deepening global recession. Economists warn that continued tit-for-tat tariff hikes between the world’s two largest economies could further strain global supply chains and slow down economic recovery.

Beijing, meanwhile, has called the latest move “reckless,” urging Washington to avoid a “mutually destructive outcome” that would harm businesses and consumers on both sides.

In a dramatic escalation of the ongoing trade war, US President Donald Trump has announced an additional 50% tariff on Chinese goods, less than 48 hours after Beijing retaliated with a 34% hike on American imports. The move takes the total US tariff burden on Chinese goods to an unprecedented 84%, rising further to 94% when including the blanket 10% global tariff recently implemented by the White House.

Trump made the announcement at 11:30 AM US time (9:00 PM IST) on his social media platform, Truth Social, warning that China’s continued tariff retaliation would be met with “substantially higher” countermeasures. “If China does not withdraw its 34% tariff hike by April 8, the United States will impose additional 50% tariffs effective April 9,” he declared.

Accusing China of “decades of tariff abuse, illegal subsidies, and currency manipulation,” Trump reiterated that the US tariffs are simply “reciprocal” in nature. “We are doing to them what they’ve done to us,” he said, emphasizing fairness in global trade.

The US president also threatened to terminate all talks with China, accusing Beijing of attempting to stall negotiations while benefiting from long-standing imbalances. “Talks with China are over. Negotiations with non-retaliating countries will begin immediately,” Trump added.

Global markets reacted sharply to the announcement. Stock indices and oil prices have been tumbling for three consecutive days amid fears of a deepening global recession. Economists warn that continued tit-for-tat tariff hikes between the world’s two largest economies could further strain global supply chains and slow down economic recovery.

Beijing, meanwhile, has called the latest move “reckless,” urging Washington to avoid a “mutually destructive outcome” that would harm businesses and consumers on both sides.