China Says “Bring It On” as Trump Ramps Up Tariff Fight
Things are heating up fast in the US-China trade war. President Trump just threatened to slap another 50% in tariffs on Chinese goods, and China’s not backing down Beijing says they’re ready to “fight to the end.”
Trump’s tough talk has already rocked global markets, with stocks crashing and fears of a worldwide recession rising. Still, he’s not showing any signs of slowing down. “Don’t be weak! Don’t be stupid!” he told Americans, standing firm on his trade strategy.
In response, China’s hitting back with its own 34% tariffs on US imports, set to kick in Thursday. Trump fired right back, saying if China keeps retaliating, total tariffs could soar to 104% on Chinese goods.
“I respect China, but they can’t do this,” Trump said, insisting the US has one shot to get it right.
China isn’t budging. Their commerce ministry blasted Trump’s tactics as “blackmail” and made it clear they won’t be bullied. They’re still open to talks, but they’re not folding.
Meanwhile, the markets are a mess. Hong Kong’s Hang Seng had its worst day in years, and Wall Street isn’t doing any better. Trillions have been wiped from the markets, and the chaos isn’t over yet.
Trump also cancelled any planned meetings with China over the tariffs but said other countries open to talking are welcome. Japan might get first dibs on negotiations since they’ve shown willingness to deal.
While Trump pushes permanent tariffs to bring manufacturing back to the US, many experts say his plan might backfire. JPMorgan Chase’s CEO warned that inflation is on the way, and even Republican Senator Ted Cruz is nervous he says a recession could spell disaster for the GOP in the next election.
