{"id":132842,"date":"2025-04-07T17:19:04","date_gmt":"2025-04-07T17:19:04","guid":{"rendered":"https:\/\/quixnet.net\/wpinstance\/trump-threatens-more-tariffs-on-china-as-global-markets-plunge-ap-news\/"},"modified":"2025-04-07T17:19:04","modified_gmt":"2025-04-07T17:19:04","slug":"trump-threatens-more-tariffs-on-china-as-global-markets-plunge-ap-news","status":"publish","type":"post","link":"https:\/\/quixnet.net\/wpinstance\/trump-threatens-more-tariffs-on-china-as-global-markets-plunge-ap-news\/","title":{"rendered":"Trump threatens more tariffs on China as global markets plunge – AP News"},"content":{"rendered":"

Copyright 2025 The Associated Press. All Rights Reserved.
President Donald Trump said Sunday that he won\u2019t back down on his sweeping tariffs on imports from most of the world unless countries even out their trade with the U.S., digging in on his plans to implement the taxes that have sent financial markets reeling.
President Donald Trump waves as he arrives at the White House on Marine One, Sunday, April 6, 2025, in Washington. (AP Photo\/Manuel Balce Ceneta)
President Donald Trump walks on the South Lawn as he arrives at the White House on Marine One, Sunday, April 6, 2025, in Washington. (AP Photo\/Manuel Balce Ceneta)
President Donald Trump walks down the stairs of Air Force One upon his arrival at Joint Base Andrews, Md., Sunday, April 6, 2025. (AP Photo\/Luis M. Alvarez)
President Donald Trump arrives at the White House on Marine One, Sunday, April 6, 2025, in Washington. (AP Photo\/Manuel Balce Ceneta)
President Donald Trump said Sunday that he won\u2019t back down on his sweeping tariffs on imports from most of the world unless countries even out their trade with the U.S., digging in on his plans to implement the taxes that have sent financial markets reeling.
President Donald Trump waves as he arrives at the White House on Marine One, Sunday, April 6, 2025, in Washington. (AP Photo\/Manuel Balce Ceneta)
President Donald Trump waves as he arrives at the White House on Marine One, Sunday, April 6, 2025, in Washington. (AP Photo\/Manuel Balce Ceneta)
President Donald Trump walks on the South Lawn as he arrives at the White House on Marine One, Sunday, April 6, 2025, in Washington. (AP Photo\/Manuel Balce Ceneta)
President Donald Trump walks on the South Lawn as he arrives at the White House on Marine One, Sunday, April 6, 2025, in Washington. (AP Photo\/Manuel Balce Ceneta)
President Donald Trump walks down the stairs of Air Force One upon his arrival at Joint Base Andrews, Md., Sunday, April 6, 2025. (AP Photo\/Luis M. Alvarez)
President Donald Trump walks down the stairs of Air Force One upon his arrival at Joint Base Andrews, Md., Sunday, April 6, 2025. (AP Photo\/Luis M. Alvarez)
President Donald Trump arrives at the White House on Marine One, Sunday, April 6, 2025, in Washington. (AP Photo\/Manuel Balce Ceneta)
President Donald Trump arrives at the White House on Marine One, Sunday, April 6, 2025, in Washington. (AP Photo\/Manuel Balce Ceneta)
▶ Follow live updates on global market turmoil<\/a><\/span>
WASHINGTON (AP) \u2014 Undeterred by a stock market collapse that has continued for days, President Donald Trump<\/a><\/span> threatened additional tariffs on China on Monday, raising fresh concerns that his drive to rebalance the global economy could intensify a financially destructive trade war.
Trump\u2019s threat, which he delivered on social media, came after China said it would retaliate<\/a><\/span> against U.S. tariffs he announced last week<\/a><\/span>.
\u201cIf 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,\u201d he wrote on Truth Social. \u201cAdditionally, all talks with China concerning their requested meetings with us will be terminated!\u201d
If Trump implements his plans, U.S. tariffs on imports from China would reach a combined 104%. The new taxes would be on top of the 20% tariffs announced as punishment for fentanyl trafficking and his separate 34% tariffs announced last week. Not only could that increase prices for American consumers, it could give China an incentive to flood other countries with cheaper goods and seek deeper partnerships with other trading partners.
Trump faces mounting pressure in the financial markets and from business leaders to backtrack on his tariff ambitions, yet he has shown no signs of reversing course or finding a message to calm panicked markets. The White House said Monday that Trump would veto a Senate bill that would mandate congressional approval for new tariffs, a bet that the critical mass of Republican lawmakers will loyally back his taxes on imports despite the economic and political chaos being created.
As of midday on Monday, the Dow Jones Industrial Average had fallen 750 points, or 2%. The S&P 500 had slumped 1.5%, and the Nasdaq composite was off 1.2%. The drop in the markets briefly reversed in the morning after a false report that Trump was considering a pause in his tariff plans. The frantic trading, which sent stocks spiking before plummeting again, showed how investors are operating on a hair trigger and are eager for any sign of encouraging news.<\/p>\n

The White House account said it was \u201cfake news\u201d that Trump was considering a pause. The Republican president has remained defiant despite fears that he could be pushing the U.S. toward a recession, insisting that his tariffs are necessary for rebuilding domestic manufacturing and resetting trade relationships with other countries.
\u201cBe Strong, Courageous, and Patient, and GREATNESS will be the result!\u201d he wrote on Truth Social.
He accused other countries of \u201ctaking advantage of the Good OL\u2019 USA\u201d said \u201cour past \u2018leaders\u2019 are to blame for allowing this.\u201d Trump also called on the Federal Reserve to lower interest rates. On Friday, Federal Reserve Chair Jerome Powell warned that the tariffs could increase inflation<\/a><\/span>, and he said \u201cthere\u2019s a lot of waiting and seeing going on, including by us,\u201d before any decisions would be made.
Investors expect the U.S. central bank to cut its benchmark interest rates at least four times by the end of this year, according to CME Group\u2019s FedWatch, a sign that concerns about inflation will be eclipsed by fears of layoffs and a shrinking economy.
Trump spent the weekend in Florida, arriving on Thursday night to attend a Saudi-funded tournament at his Miami golf course. He stayed at Mar-a-Lago<\/a><\/span>, his private club in Palm Beach, and golfed at two of his properties nearby.
On Sunday, he posted a video of himself hitting a drive, and he told reporters aboard Air Force One that evening that he won a club championship.
\u201cIt\u2019s good to win,\u201d Trump said. \u201cYou heard I won, right?\u201d
He also said that he wouldn\u2019t back down<\/a><\/span> from his tariffs despite the turmoil in the global markets.
\u201cSometimes you have to take medicine to fix something,\u201d Trump said.
Goldman Sachs issued a new forecast saying a recession has become more likely even if Trump backtracks from his tariffs. The financial firm said economic growth would slow dramatically \u201cfollowing a sharp tightening in financial conditions, foreign consumer boycotts, and a continued spike in policy uncertainty that is likely to depress capital spending by more than we had previously assumed.\u201d
European Commission President Ursula von der Leyen said the European Union would focus on trade with other countries besides the United States, saying there are \u201cvast opportunities\u201d<\/a><\/span> elsewhere.
Trump said he spoke with Japanese Prime Minister Shigeru Ishiba to start trade negotiations. He complained on Truth Social \u201cthey have treated the U.S. very poorly on Trade\u201d and \u201cthey don\u2019t take our cars, but we take MILLIONS of theirs.\u201d
Ishiba said he told Trump that he\u2019s \u201cstrongly concerned\u201d that tariffs would discourage investment from Japan, which has been the world\u2019s biggest investor in the U.S. in the past five years. He described the situation as a \u201cnational crisis\u201d and said that his government would negotiate with Washington to urge Trump to reconsider the tariffs.
White House trade adviser Peter Navarro suggested countries would need to do much more than simply lower their own tariff rates to reach deals, saying they would have to make structural changes to their tax and regulatory codes.
\u201cLet\u2019s take Vietnam,\u201d he said on CNBC. \u201cWhen they come to us and say, \u2018We\u2019ll go to zero tariffs,\u2019 that means nothing to us because it\u2019s the non-tariff cheating that matters.\u201d
On Monday, Trump welcomed the Los Angeles Dodgers<\/a><\/span> to the White House to celebrate their World Series victory. He\u2019s also meeting with Israeli Prime Minister Benjamin Netanyahu<\/a><\/span>, and they\u2019re expected to hold a joint press conference in the afternoon.
Trump has strived for a united front after the chaotic infighting of his first term. However, the economic turbulence has exposed some fractures within his disparate coalition of supporters.
Bill Ackman, a hedge fund manager, lashed out at Commerce Secretary Howard Lutnick<\/a><\/span> on Sunday as \u201cindifferent to the stock market and the economy crashing.\u201d He said Cantor Fitzgerald, the financial firm led by Lutnick before he joined the Trump administration, stood to profit because of bond investments.
On Monday, Ackman apologized for his criticism but reiterated his concerns about Trump\u2019s tariffs.
\u201cI am just frustrated watching what I believe to be a major policy error occur after our country and the president have been making huge economic progress that is now at risk due to the tariffs,\u201d he wrote on X.
Top White House economic adviser Kevin Hassett told Fox News Channel that Ackman should \u201cease off the rhetoric a little bit.\u201d
He insisted that other countries, not the United States, are \u201cgoing to bear the brunt of the tariffs.\u201d
Billionaire Elon Musk<\/a><\/span>, a top adviser to Trump on overhauling the federal government, expressed skepticism about tariffs over the weekend. Musk has said that tariffs would drive up costs for Tesla, his electric automaker.
\u201cI hope it is agreed that both Europe and the United States should move ideally in my view to a zero tariff situation, effectively creating a free trade zone between Europe and North America,\u201d Musk said in a video conference with Italian politicians<\/a><\/span>.
He added, \u201cThat certainly has been my advice to the president.\u201d
Navarro later told Fox News that Musk \u201cdoesn\u2019t understand\u201d the situation.
\u201cHe sells cars,\u201d Navarro said. \u201cThat\u2019s what he does.\u201d He added that, \u201cHe\u2019s simply protecting his own interests as any business person would do.\u201d
___ Associated Press writer Mari Yamaguchi contributed from Tokyo.
Follow the AP\u2019s coverage of President Donald Trump at https:\/\/apnews.com\/hub\/donald-trump<\/a><\/span>.<\/p>\n

Copyright 2025 The Associated Press. All Rights Reserved.<\/p>\n

source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Copyright 2025 The Associated Press. All Rights Reserved.President Donald Trump said Sunday that he won\u2019t back down on his sweeping tariffs on imports from most of the world unless countries even out their trade with the U.S., digging in on his plans to implement the taxes that have sent financial markets reeling.President Donald Trump waves […]<\/p>\n","protected":false},"author":1,"featured_media":132843,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-132842","post","type-post","status-publish","format-standard","has-post-thumbnail","category-world","entry"],"_links":{"self":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/132842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/comments?post=132842"}],"version-history":[{"count":0,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/132842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media\/132843"}],"wp:attachment":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media?parent=132842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/categories?post=132842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/tags?post=132842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}