WASHINGTON — U.S. President Donald Trump upped the ante in his trade war with China Monday, threatening to slap an additional 50% tariff if Beijing does not reverse its decision to take retaliatory action against his proposed reciprocal tariffs.
The 50% tariff would be an addition to the already announced 34% levy announced last week, as well as the 20% tariff already in effect to halt the flow of fentanyl, putting the total tariff over 100%.
