China Accuses US of Blackmail Amid Escalating Trade War; Trump Threatens Additional Tariffs

On Tuesday, April 8th, 2025, China's commerce ministry accused the US of "blackmail" following Donald Trump's threat of additional 50% tariffs if Beijing did not reverse its 34% reciprocal tariff. China vowed to "resolutely take countermeasures." Trump stated on Truth Social that if China did not withdraw its 34% tariff increase by April 8th, 2025, the US would impose an additional 50% tariff on April 9th and terminate all trade talks. Xinhua accused Trump of "naked extortion." A 1987 speech by Ronald Reagan criticizing tariffs was widely shared by Chinese sources. Japan's Nikkei index rose 6% after Trump and Prime Minister Shigeru Ishiba agreed to open trade talks. The European Commission proposed counter-tariffs of 25% on US goods. Taiwan, facing a 32% reciprocal tariff, has proposed a zero-tariffs agreement.