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[BBC live feed of the market crash] Trump threatens extra 50% tariff on China unless it drops retaliatory levy (www.bbc.com)

submitted 1 week ago by [email protected] to c/[email protected]

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US President Donald Trump says he will impose additional tariffs on China, from Tuesday, if Beijing does not withdraw its 34% retaliatory tariffs on the US.

The additional tariffs on Beijing would be of 50%, Trump says.

As a reminder, China announced on Friday that it would be imposing such tariffs on Washington after the White House said that from 9 April it'd put 34% levies on all goods from Beijing.

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[–] [email protected] 11 points 1 week ago

It will definitely have an effect on China, but they’ve been working on decoupling for years already. That’s exactly what BRICS and Belt and Road are facilitating. BYD is the largest EV brand in the world despite not selling in the US, Huawei still one of the biggest phone brands despite being banned. It’ll slow things down there, but it’s hardly an existential crisis.