On Monday, President Trump issued a new ultimatum to China: either the country lifts the "retaliatory tariffs" against the United States, or from Wednesday additional tariffs of 50% will come into effect. He wrote about this on his social network Truth, adding that he will cease negotiations with China if it does not accept the ultimatum.
The agency Bloomberg notes that if the US imposes additional tariffs on imports from China, the total levy on goods from this country could exceed 100%.
The threat came amid sharp fluctuations on Wall Street, when the S&P 500 index opened with a sharp decline, then fluctuated within a wide range, at times showing slight growth amid losses. The main American index is already 17.4% below its February peak, and experts believe that in the current situation, this is not the limit. "There are no signs yet that the markets have found a bottom and are starting to stabilize," analysts at Deutsche Bank point out in their note.
President Trump's trade war is causing investors to view the economy increasingly pessimistically, but he defends his global tariffs, stating that the current tariffs have already brought billions of dollars in revenue to the United States, writes The New York Times.
Trump has shown no signs of doubt in his tariff decision, stating on Monday morning on social media that the Federal Reserve should lower interest rates—a step that the Fed chairman warned could spur inflation. Previously, Trump dismissed concerns that his new tough import taxes would lead to price increases, calling them a "very beautiful thing."