Trump threatens to hike China tariffs further as market plunge continues
Trump threatens to hike China tariffs further as market plunge continues
WASHINGTON/LUXEMBOURG, April 7 (Reuters) - U.S. President Donald Trump threatened to further increase tariffs on China on Monday, raising the possibility of further escalation in a trade war that has already wiped trillions of dollars from global markets.
Trump said he would impose an additional 50% duty on U.S. imports from China on Wednesday if the world's No. 2 economy did not withdraw the 34% tariffs it had imposed on U.S. products last week. Those Chinese tariffs had come in response to 34% "reciprocal" duties announced by Trump.
