President Trump on Monday threatened to impose an extra 50% tariff on China, but opened the door to talks with other nations on a path to lowering their tariffs.
Why it matters: The administration’s steadfast message in recent days has been that the tariffs were coming and there was no way out.
- Now, it appears there may be a glimmer of hope.
- Stock markets remained lower at midday, after a frenetic morning where a false rumor of a tariff pause caused global markets to briefly skyrocket.
Driving the news: Trump threatened the new levies on China in a social media post.
- “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!” Trump wrote.
- Trump previously imposed 20% tariffs on China over fentanyl, and then stacked a 34% tariff over trade issues, suggesting the total tariff on Chinese goods could now reach 104% or more.
Yes, but: He also opened the door to a possible off-ramp for some of the roughly 60 other nations hit with large reciprocal tariffs.
- “Negotiations with other countries, which have also requested meetings, will begin taking place immediately,” Trump wrote.
- Over the weekend, administration officials said more than 50 nations had requested a meeting.
Editor’s note: This story has been updated throughout with additional information.
