Trump Threatens 50% Tariff Increase on China as Trade War Intensifies

With China's retaliatory tariffs set to take effect, global markets reel and international negotiations scramble for resolution.

• President Trump has announced plans to impose an additional 50% tariff on Chinese imports if China does not withdraw its 34% retaliatory tariffs by April 8, 2025.
• The escalating trade war has caused severe turbulence in global markets, with Hong Kong's Hang Seng Index experiencing its worst drop since 1997 and U.S. indices showing sharp declines.
• China has condemned the U.S. tariff threats as 'blackmail' and vowed to fight back, while the European Union and Japan have proposed negotiations to mitigate the economic fallout.
• Economic leaders, including JPMorgan Chase CEO Jamie Dimon, warn that the tariffs could increase inflation, slow growth, and heighten the risk of a global recession.
• Despite growing criticism from allies and economic experts, Trump remains firm on his strategy, describing the tariffs as necessary to rebuild U.S. manufacturing and rebalance global trade.

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