President Trump escalated his trade war with China on Monday, threatening to impose an additional 50% tariff on Chinese imports if Beijing doesn't withdraw its planned 34% retaliatory duties by April 8. This would bring total U.S. tariffs on Chinese goods to a prohibitive 104% when combined with existing duties.
"If 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," Trump posted on social media.
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Create account Try a demo Download mobile app Download mobile appThe President also threatened to terminate all trade talks with China while opening negotiations with other countries. The new threats come as markets continue sinking in response to Trump's April 2 announcement of a blanket 10% tariff on all imports and higher duties on 185 countries deemed "worst offenders."
China has already announced countermeasures including a matching 34% tariff on U.S. goods and export controls on rare earth elements, set to begin April 10.
Trump defended his approach, suggesting markets may need to "take medicine" and describing the new tariffs as "already in effect, and a beautiful thing to behold."
US100 (D1 Interval)
The Nasdaq 100, represented by US100, has broken above recent lows at 17,176, which marked the April low. Bulls need to reclaim this level to prevent further downside, while bears will aim for a break below the December 2023 low at 16,445 — a move that could open the path to even lower levels. The next key bearish target may be the October 2023 low, when US100 was trading around the 14,190 level. The RSI is currently at its lowest levels in recent years, signaling extreme weakness. Source: xStation
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