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President Donald Trump threatened with additional tariffs on China On Monday, setting up fresh concern that his urge to renovate the global economy could lead to a trade war.
Trump’s threat, which he delivered to the social media came after China said she would take revenge on the US tariffs announced last week.
“If China does not withdraw an increase of 34 percent above their already long -term trade abuse until tomorrow, April 8, 2025, the United States imposes additional tariffs at China of 50 percent, in force on April 9,” he wrote about the truth of Social. “In addition, all conversations with China about their sought after meetings will be abolished with us!
Trump remained defiant because the stock market continued to fall and the fears of the recession grew.
“Be strong, brave and patient, and the size will be the result!” He wrote.
The Dow Jones industrial average reduced 1,200 points as trading started on Monday morning, and the S&P 500 was on his way to enter the bears market, which means 20 percent from the recent maximum. Even some Trump allies raise alarms due to economic damage, and financial forecasts suggest more pain on the horizon for US companies, consumers and investors.
The Republican president insisted that his tariffs were needed to reinstate the balanced global trade and the renewal of domestic production. He accused other countries of “taking advantage of the good ol” USA! “At international trade and they said that” ours passed the “leaders” to blame for allowing it.
Trump also called on the federal reserves to lower the interest rate. On Friday, the President of the Federal Reserve of Jerome Powell warned that the tariffs could increase inflation, and he said: “A lot of waiting and visions, including us,” before any decisions are made.
Investors expect that the US Central Bank will reduce their reference interest rates at least four times by the end of this year, according to Fedwatch CME Group, which is a sign that concerns about inflation will be obstructed by the fear of releasing and decreasing the economy.
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Trump spent weekend in Florida, coming Thursday night to attend the Saudi tournament on his golf course in Miami. He stayed in Mar-a-lag, his private club in Palm Beach, and Golf was on two of his estates nearby.
On Sunday, he posted a video of himself, and told reporters that night to reporters at Air Force One that he won the club championship.
“It’s good to win,” Trump said. “You heard I won, didn’t you?”
He also said he would not give up his tariff despite the restlessness in global markets.
“Sometimes you have to take the medicine to fix something,” Trump said.
Goldman Sachs has issued a new forecast by saying that the recession has become more likely even if Trump withdraws from his tariffs. The financial company said that economic growth will dramatically slow down “after the sharp pesting of the financial conditions, the boycott of foreign consumers and the continuous jump in the uncertainty of politics, which will probably depress capital consumption according to more than we had previously assumed.”
European Commission President Ursula von der Leyen said the European Union will focus on trade with other countries, except the United States, saying that there are “huge capabilities” elsewhere.
Trump said he spoke with Japanese Prime Minister Shigeru Ishib to start trade negotiations. He complained to the truth of the social “They did very badly treated the trade” and “they do not take our cars, but we take millions of their own.”
Ishiba said he said to Trump that he was “strongly worried” that Tariffs would discourage investments from Japan, which has been the world’s largest investor in the US in the last five years. He described the situation as a “national crisis” and said his government would negotiate with Washington to invite Trump to re -examine the tariff.
The Peter Navarro White House Advisor suggested that the countries should do much more than simply lower their own tariff rates to reach contracts, saying that they will have to make structural changes in their tax and regulatory codexes.
“Let’s take Vietnam,” he said at CNBC. “When they come to us and say,” We will go to zero tariffs, “that means nothing to us because it is important non-Tariff cheating.”
On Monday, the president was to welcome Los Angeles Dodgers in the White House to celebrate the victory of their world series. He also meets Israeli Prime Minister Benjamin Netanyahu, and is expected to hold a joint press conference in the afternoon.
Trump sought for the United Front after the chaotic altercation of his first term. However, economic turbulence has discovered some fractures within his different supporter coalition.
Bill Ackman, a Hedge Fund manager, ran into the Hward’s pouches a pier as “indifferent to the stock market and economics on Sunday on Sunday.” He said that Cantor Fitzgerald, a financial company led by Lutnick before joining Trump’s administration, remained profit for investment in bonds.
Ackman apologized on Monday for criticism, but he repeated concern about Trump’s tariffs.
“I am just a frustrated view, which I believe is that the main mistake is in politics after our country and the president has achieved a huge economic progress that is now at risk of tariff,” he wrote on X.
The top economic adviser to the White House Kevin Hassett told Fox News Channel that Ackman should “make it a little easier to rhetoric”.
He insisted that other countries, not the United States, “submit a transfer of tariffs.”
A billionaire Elon Musk, a top adviser to Trump in the overhaul of the Federal Government, expressed skepticism towards tariffs over the weekend. Musk said the tariffs would increase the costs of Tesla, his electric car manufacturer.
“I hope it will agree that both Europe and the United States are ideally crossed in my opinion in a zero tariff situation, effectively creating a free trade zone between Europe and North America,” Musk said in a video conference with Italian politicians.
He added, “That must have been my advice to the president.”
Navarro later told Fox News that Musk “did not understand” the situation.
“He sells cars,” Navarro said. “That’s what he does.” He added that “simply protects his own interests as any business person would do.”
___ writer Associated Press Mari Yamaguchi contributed from Tokyo.
