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Trump Hits China Tariff Retaliation, Says Policy Will Remain
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April 4, 2025
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4:58Now PlayingPresident Donald Trump blasted China for retaliating against his sweeping tariff plan and vowed his economic policies “will never change,” as the prospect of a trade war wreaked more havoc on the global economy.
Trump on Friday condemned China’s move to slap a 34% charge on all American goods in response to his reciprocal tariffs, which raised duties on Chinese imports to at least 54%. The tit-for-tat raised fears his trade fight could escalate and tip global economies into a recession.
“CHINA PLAYED IT WRONG, THEY PANICKED - THE ONE THING THEY CANNOT AFFORD TO DO!” Trump posted on social media.
The US president did not announce plans to respond to China with further measures, but he has previously pledged that if countries raise duties in response to his new tariffs, he will do so as well. The White House declined to elaborate on Trump’s post.
Author and Yale School of Management lecturer Gautam Mukunda examines the medium- and long-term effects of what he believes to be a major "self-inflicted" wound from American economic policy. Professor Mukunda speaks with Tom Keene and Paul Sweeney on Bloomberg Radio.
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