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Markets have continued to tumble after Trump’s global tariffs. Responding to this, the president said, ’sometimes you have to take medicine to fix something.’
| Published Apr 07, 2025 | Updated Apr 07, 2025
President Donald Trump holds up a copy of a 2025 National Trade Estimate Report as he speaks during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2, 2025. Chip Somodevilla/Getty Images
President Donald Trump on Monday said he may impose an additional 50 percent tariff on Chinese imports if Beijing does not withdraw its retaliatory levies on U.S. goods.
Writing in a Truth Social post, Trump said if China doesn’t reverse its decision by April 8, the additional 50 percent will be imposed on April 9.
“Additionally, all talks with China concerning their requested meetings with us will be terminated!” he said. “Negotiations with other countries, which have also requested meetings, will begin taking place immediately.”
The board of the New York Stock Exchange at the closing bell, on April 4, 2025. Timothy A. Clary/AFP via Getty Images
The three major U.S. stock markets opened lower on Monday morning but saw gains later in the morning amid uncertainty over recent tariff announcements.
The Dow Jones Industrial Average led the way with an initial 1,600-point drop but entered positive territory at around 10 a.m. local time.
But as of 10:45 a.m., the Dow was down 700 points, while the Nasdaq Composite shed 0.6 percent and the S&P 500 dropped about 1 percent.
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