WASHINGTON: US President Donald Trump has warned that China should immediately withdraw the 34 percent tariff imposed on US imports in retaliation for the retaliatory tariffs. Trump has threatened to impose an additional 50 percent tariff on Chinese imports from tomorrow if it does not comply.

China has announced that the retaliatory tariffs on the US will take effect on Thursday. The tariff imposed on China is 34 percent in the reciprocal tariff list announced by Trump on April 2. With this, the total tariff on Chinese imports, including those previously imposed, has increased to 54 percent. China announced retaliatory tariffs on the US following this. The retaliatory tariffs will take effect from Wednesday.

Donald Trump had earlier stated that he would not back down on the decision to impose tariffs on products imported into the US. Trump justified his decision while global stock markets were facing a decline. Trump said that sometimes you have to take medicine to make things right. He added that jobs and investment would return to the US and that the country would become richer than ever before. There were widespread protests in Washington, Boston, Chicago, Los Angeles and New York against Trump's policies the other day.

Asian and European countries are in constant contact with the US to reach an agreement. Trump also blamed the policies of the Joe Biden administration for the reason that trading partners are exploiting the US. At the same time, the US administration, which stated that the retaliatory tariffs announced by Trump on April 2 will be implemented on time, dismissed fears of an economic recession.