(VOVWORLD) - US President Donald Trump on Monday threatened China with an extra 50% tariff on goods imported into the US if China continues to impose its 34% counter-tariff, as global markets continue to fall.
 President Donald Trump warns China of imposing an extra 50% tariff on goods imported into the US. (Photo: Getty Images) |
On Truth Social, Trump said China has retaliated by imposing an additional 34% tariff, effective this Thursday, on US goods.
He said if China doesn’t withdraw its retaliatory tariffs by Tuesday, the US will increase its tariffs on Chinese goods by 50%, starting Wednesday, and all discussions with China regarding a proposed bilateral meeting will cease. Negotiations with other countries that have requested to meet with the US will begin immediately.
Trump also said he will sign an executive order allowing ByteDance, TikTok’s Chinese parent company, an additional 75 days to sell its stake in the app, or else the app will be banned in the US.
Trump said the US does not want TikTok to "disappear" and hopes to work with TikTok and China to finalize a deal.