Donald Trump has threatened China with an extra 50% tariff on goods imported into the US if it does not withdraw its 34% counter-tariff, as global markets continue to fall.

Trump said he would impose an additional 50% duty on U.S. imports from China on Wednesday, if Beijing does not withdraw the 34% tariff it imposed on U.S. products last week.

President Donald Trump has threatened to impose an additional 50 percent tariff on all Chinese products if Beijing does not rescind its retaliatory duties.

Trump reiterated his threat of 50% duties on Chinese goods if Beijing did not retract its counter-tariff plans by Tuesday

The Chinese Embassy has shared a clip of the iconic Republican criticizing tariffs, saying his words have "new relevance" amid Trump's global levies.

Canada's main stock index fell on Monday to a seven-month low, including declines for energy and financial shares, as a widening trade war threatened to derail the global economy and despite the prospect of negotiations that could lead to deals.

Traders are bracing for another bumpy week after a day marked by waves of volatility thanks to unpredictable news on President Donald Trump’s tariff plans. US stocks swung violently, wiping out a 4% plunge to rise more than 3% before turning negative again as investors reacted to a swirl of headlines related to trade policies.

U.S. President Donald Trump threatened to further increase tariffs on China on Monday, raising the possibility of further escalation in a trade war that has already wiped trillions of dollars from global markets.

Fears of an escalatory tariff war between China and the US are laid out on the front of the Financial Times after Trump threatened additional 50% tariffs on China if Beijing did not withdraw its retaliatory levies.