US President Donald Trump on Monday threatened huge additional tariffs on imports from China, raising the possibility of further escalation in a trade war that has already wiped trillions of dollars from global markets.

"If China does not withdraw its 34 percent increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50 percent, effective April 9th," Trump said in a Truth Social post.

Last week, Trump put an additional 34 percent tariff on Chinese goods, on top of two rounds of 10 percent tariffs already declared in February and March.

It is not immediately clear how Trump's new threat factors into this calculation.

China's response included export controls on rare earth elements, and Beijing plans for its own 34 percent tariff on US goods, stacking atop existing Chinese levies set to begin April 10.

Earlier, Foreign Ministry spokesman Lin Jian said the new tariffs harmed the stability of global production and supply chains and seriously impacted the world’s economic recovery.

“Pressure and threats are not the way to deal with China. China will firmly safeguard its legitimate rights and interests,” Lin told reporters.

Trump took aim at Beijing's economic practices on social media Monday, criticizing its "non-monetary tariffs" and "illegal subsidization of companies."

He added that "all talks with China concerning their requested meetings with us will be terminated."

But "negotiations with other countries, which have also requested meetings, will begin taking place immediately," Trump wrote on his Truth Social platform. (Agencies)