President Trump threatened to boost tariffs on Chinese imports to 104% in response to China imposing matching tariffs and bans on rare earth mineral exports. He announced this on his social media platform, stating that if China does not reverse its 34% increase, additional tariffs would take effect on April 9. Trump justified this move by highlighting what he perceives as China's long history of tariff abuses and currency manipulation, emphasizing a tough stance against retaliatory actions from Beijing.
"China issued Retaliatory Tariffs of 34 percent, on top of their already record setting Tariffs, Non-Monetary Tariffs, Illegal Subsidization of companies, and massive long term Currency Manipulation, despite my warning that any country that Retaliates against the US... will be immediately met with new and substantially higher Tariffs..."
"Therefore, if China does not withdraw its 34 percent increase above their already long term trading abuses by tomorrow, April 8, 2025, the United States will impose ADDITIONAL Tariffs on China of 50 percent, effective April 9."
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