Trump threatens extra 50% tariff on China unless it drops retaliatory levy
Donald Trump threatens China with additional 50% tariffs if Beijing does not withdraw its 34% retaliatory tariffs on Washington
If imposed, it could leave some US companies bringing in certain goods from China facing a 104% tax
It comes as US markets drop sharply again on opening, while Europe's biggest stock markets - including London's FTSE 100 - have all closed over 4% down
Meanwhile, the EU says it's offering "zero-for-zero" tariffs on some goods it exports to the US
Is the US running a $1 trillion deficit with China?
By Gerry Georgieva
During the 15 minutes that President Donald Trump spoke to reporters last night, he claimed that the United States was running a $1tn trade deficit with China.
He's just announced that he plans to hit Beijing with an extra 50% tariff unless it drops retaliatory levy
We can’t find any evidence for his claim, which he made several times
The US does run a trade deficit with China, meaning that it imports more in goods from that country than it exports to it, but the figure was just over $295bn for 2024.
Globally, in 2024, China exported nearly $1tn more goods than it imported so it’s possible that Trump may have been mistakenly referring to this figure.
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