Trump tariffs: China vows to 'fight' new 50% tariff threat

• China has said it will 'fight to the end' after Trump threatened further 50% tariffs
• China faces a total of 104% tariffs if it doesn't rescind its 34% tariffs on US goods, Trump said
• US, Japanese stocks rebound as global markets remain volatile
• The EU is considering imposing 25% tariffs on certain US goods

Here are the latest developments from the fallout of the Trump tariffs on Tuesday, April 8:

04/08/2025April 8, 2025

China vows a 'fight to the end' in response to Trump's extra 50% tariffs threat

China has threatened to take "countermeasures to safeguard its own rights and interests," in response to Trump's threat of an additional 50% tariff on the Asian superpower — which would bring the total tariffs to 104%.

The Chinese Commerce Ministry, in a statement early Tuesday morning, said the US' so-called reciprocal tariffs were "completely groundless," describing them as "a typical unilateral bullying practice."

"The US threat to escalate tariffs on China is a mistake on top of a mistake and once again exposes the blackmailing nature of the US. China will never accept this," a spokesperson for the ministry said.

"If the US insists on having its own way, China will fight to the end."

Beijing has unveiled its own 34% tariff on US goods in response to Washington's duties, set to come into effect on Thursday. 

At the same time, China's Commerce Ministry is seeking dialogue with Washington saying there were "no winners in a trade war." 

04/08/2025April 8, 2025

Welcome to our coverage

Thank you for joining us as we bring you the latest fallout from US President Donald Trump's tariffs.

Following one of the worst days for many global stock markets on Monday, investors appeared to have calmed a little by Tuesday morning, with upticks seen in Shanghai and Hong Kong — although not enough to recoup their Monday losses, something that Tokyo managed to achieve with a 6% bump on Tuesday after Japanese Prime Minister Shigeru Ishibia held talks with Trump.

This came after US markets showed slight signs of recovery on Monday.

However, as a whole, investors braced for further volatility, with several other Asian markets recording painful drops. 

Dozens of countries have already reached out to renegotiate tariffs with the US, and some partners, such as India and Indonesia, have said they will not retaliate to the tariffs.

At the same time, the EU has been considering how it will respond, with trade ministers floating the idea of 25% tariffs on certain US goods, more than the 20% tariffs on most EU imports that are set to take effect on Wednesday.

Meeting on Monday, officials said they were ready to consider a "zero for zero" trade policy with the US. However, it remains to be seen whether Trump's tariffs are merely a temporary tool to pressure trade partners or a long-term plan.

"Sooner or later, we will sit at the negotiation table with the U.S. and find a mutually acceptable compromise," EU trade chief Maros Sefcovic said on Monday.