U.S. President Donald Trump issued a fiery statement on Monday, doubling down on his aggressive tariff strategy and warning China of severe consequences if it proceeds with its newly announced 34% retaliatory tariffs against the U.S. Slated to go into effect on Thursday, Beijing’s move has triggered an explosive response from the White House.

In a Truth Social post, Trump wrote, “The United States has a chance to do something that should have been done DECADES AGO. Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN!” He went on to accuse past U.S. leaders of enabling unfair trade, while claiming that the U.S. is now bringing in “billions of dollars a week” through tariffs already in place.

The president threatened to impose an additional 50% in tariffs on top of the 34% scheduled for Wednesday if China does not reverse course. He further stated that “all talks with China concerning their requested meetings with us will be terminated!”

Trump also touted falling oil and food prices, and called on the Federal Reserve to accelerate rate cuts, insisting, “There is NO INFLATION.”

China, in turn, defended its retaliatory move, calling it a response to America’s “typical unilateral bullying practice” and accusing Washington of violating international trade rules, according to a statement from the State Council Tariff Commission.

The escalating tit-for-tat threatens to deepen the ongoing trade standoff and rattle already volatile global markets.

Follow on Google News