Trump Threatens China with Increased Tariffs Amid Ongoing Trade Tensions
US President Donald Trump issues a stern warning to China while the EU offers to negotiate a tariff-free trade agreement.
US President Donald Trump has escalated tensions in the ongoing trade conflict with China, threatening to impose additional tariffs of up to 50% if Beijing does not retract its counter-tariffs.
In a message posted on his platform Truth Social, Trump stated that he is giving China until Tuesday to eliminate its 34% retaliatory tariffs, otherwise his new tariffs will come into effect on Wednesday.
Trump characterized China as the 'largest villain' in the trade relationship, expressing dissatisfaction with the measures taken by the Asian nation despite his earlier warnings regarding potential further tariffs.
This latest development is contributing to global market uncertainty, with increased pressure being felt across stock exchanges worldwide.
Jerome Powell, the Chair of the US Federal Reserve, has signaled concerns about rising inflation and the potential slowing of economic growth in the United States.
In response to the escalating situation, the European Union is making efforts to seek a de-escalation of tensions with the United States.
Ursula von der Leyen, President of the European Commission, stated that the EU remains ready to negotiate, despite the recent tariff decisions by Trump.
She mentioned that the EU has proposed a mutual agreement to eliminate all tariffs on industrial goods, an offer that was originally made before Trump's latest tariff announcements and reiterated last Friday.
Von der Leyen highlighted that discussions on free trade for automobiles have occurred multiple times, but no satisfactory response has been received from the US.
Alongside these negotiations, von der Leyen indicated that the EU is preparing potential countermeasures should the discussions with the US fail.
Trade ministers from EU member states have been consulting on this matter in Luxembourg, with Germany’s acting Minister for Economic Affairs, Robert Habeck, cautioning against hasty reactions while advocating for comprehensive preparatory measures.
He emphasized the importance of maintaining unity within Europe and expressed a desire to avoid escalating to a tariff war.
In a message posted on his platform Truth Social, Trump stated that he is giving China until Tuesday to eliminate its 34% retaliatory tariffs, otherwise his new tariffs will come into effect on Wednesday.
Trump characterized China as the 'largest villain' in the trade relationship, expressing dissatisfaction with the measures taken by the Asian nation despite his earlier warnings regarding potential further tariffs.
This latest development is contributing to global market uncertainty, with increased pressure being felt across stock exchanges worldwide.
Jerome Powell, the Chair of the US Federal Reserve, has signaled concerns about rising inflation and the potential slowing of economic growth in the United States.
In response to the escalating situation, the European Union is making efforts to seek a de-escalation of tensions with the United States.
Ursula von der Leyen, President of the European Commission, stated that the EU remains ready to negotiate, despite the recent tariff decisions by Trump.
She mentioned that the EU has proposed a mutual agreement to eliminate all tariffs on industrial goods, an offer that was originally made before Trump's latest tariff announcements and reiterated last Friday.
Von der Leyen highlighted that discussions on free trade for automobiles have occurred multiple times, but no satisfactory response has been received from the US.
Alongside these negotiations, von der Leyen indicated that the EU is preparing potential countermeasures should the discussions with the US fail.
Trade ministers from EU member states have been consulting on this matter in Luxembourg, with Germany’s acting Minister for Economic Affairs, Robert Habeck, cautioning against hasty reactions while advocating for comprehensive preparatory measures.
He emphasized the importance of maintaining unity within Europe and expressed a desire to avoid escalating to a tariff war.
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Translated by AI
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