'If China does not withdraw...': Donald Trump sets April 9 deadline for 50% additional tariffs on Beijing

President Donald Trump has delivered an ultimatum to Beijing, threatening a fresh wave of tariffs unless China walks back its latest retaliatory move—an aggressive 34% hike on U.S. exports. With a hard deadline set for April 8, Trump warned that failure to comply will trigger a 50% tariff on Chinese goods starting the next day. 

As global markets reel and allies take sides, the trade war is teetering on a new edge.

In a fiery post on Truth Social, Trump accused China of layering a fresh 34% retaliatory tariff atop what he called "record setting Tariffs, Non-Monetary Tariffs, Illegal Subsidization of companies, and massive long term Currency Manipulation." He warned, “any country that Retaliates against the U.S. by issuing additional Tariffs... will be immediately met with new and substantially higher Tariffs.”

Unless Beijing pulls back by April 8, he declared, “the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th.” Trump also threatened to cut off talks: “All talks with China concerning their requested meetings with us will be terminated!”

The White House backed the president’s stance and dismissed speculation about a temporary pause in tariff policy. “Fake news,” said Press Secretary Karoline Leavitt, responding to reports that Trump might delay new tariffs for 90 days.

U.S. financial markets opened sharply lower Monday, extending losses into a third session. The ripple was global—markets from Singapore to South Korea nosedived overnight. EU President Ursula von der Leyen said the bloc remains open to talks with Washington but is preparing to retaliate if needed.

Inside the U.S., high-profile figures issued dire warnings. Billionaire Richard Branson urged Washington to “own up to a colossal mistake,” warning on X, “America will face ruin for years to come.” Hedge fund titan Bill Ackman painted an even starker picture, calling the escalating tariffs an “economic nuclear winter.”

Meanwhile, Elon Musk and former Trump advisor Peter Navarro reignited their long-running feud over trade, trading barbs on social media. Commerce Secretary Howard Lutnick reiterated that the new tariffs “will not be postponed” and are expected to remain “in place for days and weeks.”

Trump is expected to discuss the escalating standoff with Israeli Prime Minister Benjamin Netanyahu at the White House Monday. Talks with other countries “which have also requested meetings” will begin immediately, Trump added.