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title: Trump Doubles Down on Trade War and Threatens China With More Tariffs
description: “We've been ripped off and taken advantage of by many countries," Trump said in the Oval Office Monday, and threatened to increase tariffs against China on Monday
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article:published_time: 2025-04-07T20:47:12.000Z
article:modified_time: 2025-04-07T22:29:17.000Z
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og:title: Trump Doubles Down on Trade War, Threatening China With More Tariffs
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og:image:alt: President Trump Meets With Visiting Israeli PM Netanyahu At The White House
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twitter:title: Trump Doubles Down on Trade War, Threatening China With More Tariffs
twitter:description: On Sunday, Goldman Sachs said the probability of a recession in the next 12 months had jumped to 45%.
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# Trump Doubles Down on Trade War, Threatening China With More Tariffs

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<!-- video src="https://cdn.jwplayer.com/manifests/OpKLnNR1.m3u8" -->
## Video: Trump Doubles Down on Trade Plans, Threatening Additional Tariffs Against China

[Watch (HLS stream): Trump Doubles Down on Trade Plans, Threatening Additional Tariffs Against China](https://cdn.jwplayer.com/manifests/OpKLnNR1.m3u8) (2:23)

![Trump Doubles Down on Trade Plans, Threatening Additional Tariffs Against China](https://cdn.jwplayer.com/v2/media/OpKLnNR1/poster.jpg?width=720)

_Published 2025-04-07. Undeterred by a stock market collapse that has continued for days, President Donald Trump threatened additional tariffs on China on Monday, raising fresh concerns that his drive to rebalance the global economy could intensify a financially destructive trade war._


by [Solcyré Burga](https://time.com/author/solcyre-burga/) and [Brian Bennett](https://time.com/author/brian-bennett/)

Updated: Apr 7, 2025 10:29 PM UTCPublished: Apr 7, 2025 8:47 PM UTC

Undeterred by a stock market collapse that has continued for days, President Donald Trump threatened additional tariffs on China on Monday, raising fresh concerns that his drive to rebalance the global economy could intensify a financially destructive trade war. 

by [Solcyré Burga](https://time.com/author/solcyre-burga/) and [Brian Bennett](https://time.com/author/brian-bennett/)

Updated: Apr 7, 2025 10:29 PM UTCPublished: Apr 7, 2025 8:47 PM UTC

President Donald Trump on Monday doubled down on his trade war and threatened to levy even higher tariffs on China this week, as markets endured a third day of intense volatility.

“We've been ripped off and taken advantage of by many countries over the years, and can't do it anymore,” Trump told reporters during a meeting with Israeli Prime Minister Benjamin Netanyahu in the Oval Office on Monday. “We have many, many countries that are coming to negotiate deals with us, and they're going to be fair deals.”

Trump’s commitment to his tariffs comes amid mounting pressure from economists, investors, and even Republicans in Congress for the White House to pause a trade strategy many fear could drive a global recession. Last week, Trump imposed a 10% across-the-board tariff on imports, as well as additional tariffs on some 90 countries. On Sunday, Goldman Sachs said the [probability](https://www.foxbusiness.com/economy/goldman-sachs-increases-recession-probability-warns-further-downgrade-more-tariffs-take-effect) of a recession in the next 12 months had jumped to 45%.

“We have $36 trillion in debt. I want to get rid of it, and we can do it quickly with proper deals,” Trump said Monday. “Countries don't allow us to sell our product, but we allow them to sell their product…They charge us massive amounts of money for the privilege of going into their country. Those days are over.” 

The meeting marked the first time Trump met in-person with a foreign leader since he unveiled the sweeping new tariffs last week in a rambling and unclear announcement in which he described an opaque formula used to calculate higher tariff rates on adversaries and allies alike. The strategy drew puzzlement from economists, who quickly found errors and inconsistencies in how the administration calculated the new tariff rates.


Some countries have attempted to quickly show they can address Trump’s unhappiness with the current trade status quo. During Monday’s press meeting, Netanyahu claimed he would work hard to “quickly” eliminate the trade deficit with the U.S.—though President Trump did not respond with a commitment to reduce the new 17% tariff on the country. “Don’t forget, we help Israel a lot,” Trump said in reference to the billions of aid the U.S. sends their closest Middle Eastern ally. 

Others have responded more firmly. China retaliated with a 34% tariff against American imports, which the President criticized during the press conference and on his social media platform. “If China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th,” Trump threatened [on Truth Social](https://truthsocial.com/@realDonaldTrump/posts/114297331052690348) Monday morning. 


Several business leaders have called on Trump to pause the implementation of his tariffs and impose a more predictable strategy to pressure more manufacturers to produce goods inside the U.S. Bill Ackman, a hedge fund manager who has supported Trump, warned of a “self-induced, economic nuclear winter” if Trump doesn’t change course. “By placing massive and disproportionate tariffs on our friends and our enemies alike and thereby launching a global economic war against the whole world at once, we are in the process of destroying confidence in our country as a trading partner, as a place to do business, and as a market to invest capital,” Ackman wrote Sunday on X.

Trump said he wasn't worried about driving trading partners to China, claiming that many countries have already approached him about negotiations. 

To some extent, Trump recognized that building up domestic manufacturing and bringing back jobs would take time. 


“You got to build a thing called the factory. You have to build your energy. You have to do a lot of things," he said. "I'm giving them energy. You know, we're going to let them build their own power plants. They'll be their own ... We need massive amounts of electricity. We're going to compete with China and others."


## Transcript

[00:00] The European Union.
[00:01] Reaction to the markets today.
[00:02] And would you be open to a pause in tariffs to allow for negotiations?
[00:07] Well, we're not looking at that.
[00:09] We have many, many countries that are coming to negotiate deals with us,
[00:13] and they're going to be fair deals.
[00:15] And in certain cases they're going to be paying substantial tariffs.
[00:20] They'll be fair deals.
[00:21] As you know, I spoke this morning with the Prime Minister
[00:25] of Japan and we had a very good conversation. They're coming.
[00:29] And I said one thing, you're going to have to open up your country because
[00:32] we sold no cars like zero cars in Japan,
[00:36] and they sold millions of cars into our country.
[00:39] They don't really take our agriculture a little bit of it just to keep us slightly happy.
[00:44] But they don't take what they're supposed to be taking.
[00:46] So we have a great relationship with Japan. We're going to keep it that way.
[00:49] But they're coming in to meet and other countries are coming in with China.
[00:55] As you know, against my statement,
[00:58] they put a 34% tariff on above what their ridiculous tariffs were already.
[01:05] And I said if that tariff isn't removed by tomorrow at 12:00,
[01:09] we're putting a 50% tariff on above the tariffs that we put on.
[01:14] So they've gone for years.
[01:16] They've become a rich country because of people again
[01:18] that were in the white House that allowed this to happen,
[01:22] hundreds of billions of dollars a year.
[01:24] They'd make on us on trade.
[01:26] And it shouldn't be that way.
[01:27] And I have a great relationship with President XI.
[01:30] I hope it's going to stay that way.
[01:32] I have great respect for China.
[01:34] But they can't do this with just we're going to have one shot at this,
[01:38] and no other president is going to do this. What I'm doing.
[01:41] And I'll tell you what,
[01:43] it's an honor to do it because we have been just
[01:46] just destroyed what they've done to our system.
[01:49] You know, we have $36 trillion of debt for a reason.
[01:53] And the reason is that people allowed it to get that way.
[01:57] So we'll be talking to China.
[02:00] We'll be talking to a lot of different countries.
[02:03] And I think, you know, if,
[02:05] if we can make a really fair deal and a good deal for the United States,
[02:10] not a good deal for other.
[02:11] This is America first.
[02:13] That's now America first.
[02:15] And we didn't put America first.
[02:16] We put America last.
[02:17] The people that were in the Oval Office put America last,
[02:21] and we're not going to stand for it.
[02:22] Mr..

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