In an intense tariff game Trump Threatens 50% Tariffs on China as Trade War Intensifies and Global Markets Tumble. In the ongoing trade dispute between the US and China, U.S. President Donald Trump threatened Beijing unless it withdraws its latest 34% retaliatory tariffs on American goods, he would impose an additional 50% tariff on Chinese imports. Trump via his Truth Social platform issued an ultimatum to China until Tuesday, April 8, to comply or face the new trade penalties.