President Trump on Monday threatened to impose a 50 percent tariff on imports from China, a massive escalation of a potential trade war between the world’s two largest economies.
Trump’s threat is the latest tit for tat between the U.S. and China in the last week. The White House last Wednesday announced it would impose a 34 percent tariff on Chinese imports as part of “reciprocal” tariffs against dozens of countries.
Beijing responded by announcing a 34 percent tariff on American imports, leading to Trump’s warning on Monday.
Trump said in a post on Truth Social that China made the move, “despite my warning that any country that Retaliates against the U.S. by issuing additional Tariffs, above and beyond their already existing long term Tariff abuse of our Nation, will be immediately met with new and substantially higher Tariffs, over and above those initially set.”
Executives from three of America’s biggest retail chains warned President Donald Trump that things could get...
