Trump threatens further 50% tariffs on China, stacking on earlier rate ...Middle East

The fresh action would stack on an already steep US rate taking effect Wednesday, the White House told AFP, bringing the total figure to a prohibitive level.

As part of a broader plan to impose “reciprocal” tariffs on countries with which the United States has large trade deficits, Trump last week unveiled a 34 percent additional tariff on China, taking effect Wednesday.

The world’s second biggest economy has also issued other countermeasures, including export controls on rare earth elements.

With the incoming 34 percent rate and new 50 percent threat, the total additional rate this year could hit 104 percent, the White House told AFP.

Trump took aim at Beijing’s economic practices on social media Monday, criticizing its “non-monetary tariffs” and “illegal subsidization of companies.”

But “negotiations with other countries, which have also requested meetings, will begin taking place immediately,“ Trump wrote on his Truth Social platform.

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