US President Donald Trump says he has no plans to pause global tariffs even as the world’s stock markets experience another turbulent day.
Speaking on Monday to reporters inside the Oval Office, Trump reiterated that he’ll impose an extra 50 percent tariff on Beijing if it doesn’t withdraw its retaliatory levy by Tuesday.
If imposed, it could leave some US companies importing certain goods from China facing a 104 percent tax.
The tariff would come on top of the 34 percent he announced on goods from China last week.
It comes as Europe’s biggest stock markets have all closed over four percent down.
More countries have been reaching out to the US to reach a deal before higher customs tariffs on roughly 60 nations are due to start on Wednesday.
But the European Union, EU, says it’s offering zero-for-zero tariffs on industrial goods it exports to the US.
Last week, Trump unveiled a 20 percent tariff on goods from the EU.
