{"id":132872,"date":"2025-04-07T23:21:10","date_gmt":"2025-04-07T23:21:10","guid":{"rendered":"https:\/\/quixnet.net\/wpinstance\/trump-threatens-more-tariffs-on-china-as-global-markets-shudder-over-how-much-pain-economy-can-take-ap-news\/"},"modified":"2025-04-07T23:21:10","modified_gmt":"2025-04-07T23:21:10","slug":"trump-threatens-more-tariffs-on-china-as-global-markets-shudder-over-how-much-pain-economy-can-take-ap-news","status":"publish","type":"post","link":"https:\/\/quixnet.net\/wpinstance\/trump-threatens-more-tariffs-on-china-as-global-markets-shudder-over-how-much-pain-economy-can-take-ap-news\/","title":{"rendered":"Trump threatens more tariffs on China as global markets shudder over how much pain economy can take – AP News"},"content":{"rendered":"

Copyright 2025 The Associated Press. All Rights Reserved.
Despite hopes that the U.S. will back off trade policies, President Donald Trump said he\u2019s not going to pause plans for tariffs. \u201cWe\u2019re not looking at that,\u201d he said in the Oval Office. Trump also said foreign leaders were looking to cut new trade deals.
U.S. stocks fell again Monday after President Donald Trump doubled down on his tariffs, despite seeing how much Wall Street wants him to do the opposite.
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 gives a thumbs-up as Israel\u2019s Prime Minister Benjamin Netanyahu leaves the West Wing of the White House, Monday, April 7, 2025, in Washington. (AP Photo\/Mark Schiefelbein)
A screen shows stock prices at the Nasdaq MarketSite, Monday, April 7, 2025, in New York. (AP Photo\/Yuki Iwamura)
Despite hopes that the U.S. will back off trade policies, President Donald Trump said he\u2019s not going to pause plans for tariffs. \u201cWe\u2019re not looking at that,\u201d he said in the Oval Office. Trump also said foreign leaders were looking to cut new trade deals.
U.S. stocks fell again Monday after President Donald Trump doubled down on his tariffs, despite seeing how much Wall Street wants him to do the opposite.
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 gives a thumbs-up as Israel\u2019s Prime Minister Benjamin Netanyahu leaves the West Wing of the White House, Monday, April 7, 2025, in Washington. (AP Photo\/Mark Schiefelbein)
President Donald Trump gives a thumbs-up as Israel\u2019s Prime Minister Benjamin Netanyahu leaves the West Wing of the White House, Monday, April 7, 2025, in Washington. (AP Photo\/Mark Schiefelbein)
A screen shows stock prices at the Nasdaq MarketSite, Monday, April 7, 2025, in New York. (AP Photo\/Yuki Iwamura)
A screen shows stock prices at the Nasdaq MarketSite, Monday, April 7, 2025, in New York. (AP Photo\/Yuki Iwamura)
▶ Follow live updates on the global markets <\/a><\/span>
WASHINGTON (AP) \u2014 Undeterred by a panicked stock market, 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 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 Trump wrote on Truth Social. \u201cAdditionally, all talks with China concerning their requested meetings with us will be terminated!\u201d
The U.S. president has shown few signs of backing down on tariffs despite the mounting pressure in the financial markets. His commitment to tariffs could have devastating effects for the global economy, even though Trump is banking that it will ultimately pay off with manufacturing jobs.
Asked Monday if he would consider a pause on his widespread tariffs, Trump said, \u201cWe\u2019re not looking at that.\u201d The U.S. president said he was open to negotiations \u201cif we can make a really fair deal and a good deal for the United States.\u201d Trump added that it\u2019s possible to have both negotiated settlements with other countries and permanent tariffs.
Even as Israeli Prime Minister Benjamin Netanyahu<\/a><\/span> said his country would take its tariffs against U.S. goods to zero, Trump was noncommittal about removing the new import taxes placed on an ally. The White House also 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 him despite the economic and political risks.<\/p>\n

However, there are signs of frustration even among Trump\u2019s allies. Sen. John Kennedy, a Louisiana Republican, said he supports the president\u2019s goals of better trade deals but worries about the economic uncertainty.
\u201cWe don\u2019t know if the medicine will be worse than the disease,\u201d Kennedy said, adding, \u201cThis is President Trump\u2019s economy now.\u201d
If Trump implements his new taxes on imports from China, U.S. tariffs on Chinese goods 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 also give China an incentive to flood other countries with cheaper goods and seek deeper relationships with other trading partners.
The Chinese Embassy in the U.S. on Monday responded to Trump\u2019s latest tariff threat by saying his bluster would not help him resolve any trade disputes.
\u201cWe have stressed more than once that pressuring or threatening China is not a right way to engage with us,\u201d said Liu Pengyu, the embassy spokesman. \u201cChina will firmly safeguard its legitimate rights and interests.\u201d
After sell-offs on the prior two days of trading, the Dow Jones Industrial Average on Monday fell 0.9%. The S&P 500 slumped 0.2%, and the Nasdaq composite was up 0.1%.
Trump frequently bragged about stock market gains during his first term, and the threat of losses on Wall Street was viewed as a potential guardrail on risky economic policies in his second term. But that hasn\u2019t been the case, and Trump has described days of financial pain as necessary.
\u201cI don\u2019t mind going through it because I see a beautiful picture at the end,\u201d he said.
Trump officials have frequently appeared on television to make the case for his policies, but none of their explanations have calmed the markets. The only improvement came from a false report<\/a><\/span> that top economic adviser Kevin Hassett said Trump was considering a pause on all tariffs except for China. Stock prices spiked before the White House denied it was true by calling the post \u201cfake news.\u201d
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.
But his aggressive push has scrambled U.S. economic policy. Even though inflation remains elevated, Trump has called on the Federal Reserve to lower its benchmark interest rates that were increased to constrain price increases.
Federal Reserve Chair Jerome Powell warned Friday 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.
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 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, an indication that talks could be a drawn-out process.
\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
Meeting with Trump at the White House on Monday, Netanyahu said his country would remove tariffs and other trade barriers in response to the U.S. placing 17% taxes on imports from Israel.
\u201cIsrael can serve as a model for many countries who ought to do the same,\u201d Netanyahu told the U.S. president.
Trump said he appreciated \u201cvery much\u201d what Netanyahu had said. But when asked if he would remove the tariffs, Trump said \u201cmaybe not\u201d because of the aid that the United States provides to Israel. The U.S. had a $7.4 billion trade deficit in goods last year with Israel, according to the Census Bureau.
Trump has strived for a united front after the chaotic infighting of his first term. However, the economic turbulence has exposed some fractures among his supporters.
Bill Ackman, a hedge fund manager, assailed Commerce Secretary Howard Lutnick<\/a><\/span> on Sunday as \u201cindifferent to the stock market and the economy crashing.\u201d
On Monday, Ackman apologized for his criticism claiming that Lutnick, previously the head of the financial firm Cantor Fitzgerald, could benefit from the tariffs because of its bond investments. But the hedge fund manager also 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.
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>.
Navarro later told Fox News\u2019 \u201cSunday Morning Futures\u201d that Musk \u201cdoesn\u2019t understand\u201d the situation.
\u201cHe sells cars,\u201d Navarro said. \u201cThat\u2019s what he does.\u201d He added, \u201cHe\u2019s simply protecting his own interests as any businessperson would do.\u201d
___ Associated Press writers Didi Tang and Stephen Groves in Washington and Mari Yamaguchi in Tokyo contributed to this report.
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

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Copyright 2025 The Associated Press. All Rights Reserved.Despite hopes that the U.S. will back off trade policies, President Donald Trump said he\u2019s not going to pause plans for tariffs. \u201cWe\u2019re not looking at that,\u201d he said in the Oval Office. Trump also said foreign leaders were looking to cut new trade deals.U.S. stocks fell again […]<\/p>\n","protected":false},"author":1,"featured_media":132873,"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-132872","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\/132872","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=132872"}],"version-history":[{"count":0,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/132872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media\/132873"}],"wp:attachment":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media?parent=132872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/categories?post=132872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/tags?post=132872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}