Donald Trump said he is “not looking” at a pause in tariffs to allow for trade negotiations and that “many countries” were reaching out to negotiate with US officials.
Earlier on Monday, National Economic Council director Kevin Hassett told Fox News that the White House was in touch with 50 countries that were seeking trade deals.
“We’re going to get fair deals and good deals with every country, and if we don’t, we’re going to have nothing to do with them, they’re not going to be allowed to participate in the United States,” Trump said.
Trump’s comments came hours after he threatened additional 50 per cent tariffs on China if Beijing did not withdraw its retaliatory levies on Washington by Tuesday.
“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 wrote on Truth Social on Monday.
The Chinese embassy in the US criticized the latest tariff threat from Trump as a “hegemonic” move.
“This is a typical move of unilateralism, protectionism and economic bullying,” said Liu Pengyu, the embassy spokesperson. “We have stressed more than once that pressuring or threatening China is not a right way to engage with us. China will firmly safeguard its legitimate rights and interests.”
Trump’s threat to sharply boost duties on China, the world’s biggest exporter, came on a day of acute volatility in US markets.
The blue-chip S&P 500 share index swung in a wide range, but closed down only 0.2 per cent. Apple, which is heavily exposed to China through its supply chains, dropped 3.7 per cent. The tech-heavy Nasdaq Composite ended the day up 0.1 per cent.
