Beijing vowed to “fight to the end” as US President Donald Trump threatened to impose an additional 50% in tariffs on all Chinese imports. The trade war between the two largest economies intensified, with both sides showing little inclination to negotiate. Trump had already announced new tariffs last Wednesday, including 34% import levies on Chinese goods. In response, China imposed 34% tariffs on US goods two days later. On Monday, Trump warned of more tariffs if China does not withdraw its retaliatory tariffs. “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,” he posted on social media. If enacted, China would be facing cumulative tariffs of 124%. China’s Ministry of Commerce said that the US threat to escalate tariffs is a mistake and added that if the US insists on its own way, China will fight to the end. The ministry urged the US to resolve differences through equal dialogue based on mutual respect. Earlier, Trump told Israeli Prime Minister Benjamin Netanyahu that he was not considering a pause on planned tariffs while open to negotiations. However, he reiterated the threat to impose additional 50% tariffs on China. The EU has dropped a plan to impose 50% retaliatory tariffs on American whiskey, instead proposing 25% tariffs on some US goods, which is a countermeasure to Trump’s 25% import levies on steel and aluminum. Asian stock markets rebounded from the recent market turmoil, likely due to dip-buys after the intense selloffs in the past week. Hopes for tariff talks between the US and its trading partners also fueled the rally. Japan’s benchmark Nikkei 225 jumped over 6% at the open after falling to an 18-month low on Monday. China’s Hang Seng Index rose as much as 3.7% before paring gains as state funds intervened to support Chinese equities. Investors also increased their bets on more stimulus measures to be imposed by Beijing. Australia’s ASX 200 rebounded 1.9%, driven by mining stocks, while South Korea’s Kospi index climbed slightly. The US stock futures also climbed, with three benchmarks, including the S&P 500, the Dow Jones Industrial average, and the Nasdaq composite, all up more than 1%. However, analysts suspect the sustainability of the rebound.

Source: https://www.euronews.com/business/2025/04/08/beijing-vows-to-fight-to-the-end-as-trump-threatens-50-more-tariffs