Daijiworld Media Network- Washington

Washington, Apr 8: US President Donald Trump has reignited trade tensions with China by threatening to impose an additional 50% tariff on Chinese goods, potentially doubling the total levies on imports from the Asian giant.

Trump’s remarks come in response to China’s recent imposition of a 34% tariff on US goods, escalating an already tense economic standoff between the world’s two largest economies. The proposed increase would push the total tariff burden on certain Chinese products to over 100% of their value — a move that has sparked global concern.

Markets responded sharply to the news. The Dow Jones Industrial Average opened with a steep drop of over 1,300 points before recovering slightly to close down 349 points. The S&P 500 also dipped into bear territory, briefly triggering investor panic before stabilizing.

China’s commerce ministry swiftly hit back at Trump’s threat, describing it as “blackmail” and vowing to retaliate if the US proceeds with the tariff hike. “We will not bow to pressure. China will take all necessary measures to defend its interests,” the Ministry said in a strongly worded statement.

Economists and trade analysts have warned that the move could severely impact global supply chains, exacerbate inflation, and negatively affect consumer prices in both nations. There is also concern that China may respond by curbing critical exports or halting the purchase of key US goods, including agricultural products.

Observers say the deepening rift could destabilize global markets and derail recovery efforts in several economies still grappling with post-pandemic challenges.

With both sides holding firm, the international community is urging dialogue and restraint to prevent further escalation of what is shaping up to be a renewed trade war with global consequences.