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2w ago

Trump Administration Rejects Tariff Concessions, Threatens Higher Duties on China

The U.S. escalates its trade strategy with a potential 50% tariff hike on Chinese imports, while global markets show signs of strain.

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WASHINGTON, DC - MARCH 04: U.S. President Donald Trump addresses a joint session of Congress at the U.S. Capitol on March 04, 2025 in Washington, DC. During his first address to Congress since returning to the White House for his second term, Trump outlined his legislative agenda, including $4 trillion in tax cuts, shrinking the size of the government and securing the southern border. (Photo by Chip Somodevilla/Getty Images)

Overview

  • President Trump has dismissed tariff removal offers from Vietnam and the European Union, citing non-tariff issues like intellectual property theft and trade circumvention as central concerns.
  • The administration's reciprocal tariff policy aims to fundamentally reshape global trade practices, moving beyond addressing trade imbalances to targeting broader systemic issues.
  • China has retaliated with a 34% tariff on U.S. goods and vowed to 'fight to the end' as Trump threatens an additional 50% tariff on Chinese imports, potentially raising total duties to 104%.
  • Global markets have reacted negatively, with U.S. and European stock indices experiencing sharp declines and bond yields falling as investors seek safe havens.
  • Business leaders, including Larry Fink and Jamie Dimon, warn that the tariff policies could trigger recessionary trends, inflation, and further economic instability.