ISTANBUL: Escalating tensions in the ongoing global trade war, United States (US) President Donald Trump on Monday threatened to impose an additional 50% tariff on China, on top of the 34% reciprocal tariffs announced last week.
"On Monday (April 8), China issued retaliatory tariffs of 34%, on top of their already record-setting tariffs, non-monetary barriers, illegal subsidisation of companies, and long-term currency manipulation -- despite my warning that any country retaliating against the US by issuing additional tariffs, beyond their existing long-term abuse of our nation, will be immediately met with new and substantially higher tariffs,” Trump wrote on social media.
