Undeterred by a stock market collapse that has continued for days, President Donald Trump threatened additional tariffs on China on Monday, raising fresh concerns that his drive to rebalance the global economy could intensify a financially destructive trade war. Trump's threat, which he delivered on social media, came after China said it would retaliate against U.S. tariffs he announced last week. “If China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th,” he wrote on Truth Social. “Additionally, all talks with China concerning their requested meetings with us will be terminated!” Asked later Monday if he would consider a pause on tariffs that have threatened the global economy, Trump said, “We're not looking at that.” The U.S. president said he was open to negotiations “if we can make a really fair deal and a good deal for the United States.” Trump added that it's possible to have both negotiated settlements with other countries and permanent tariffs. Trump faces mounting pressure in the financial markets and from business leaders to backtrack on his tariff ambitions, yet he has shown no signs of reversing course or finding a message to calm panicked markets. The White House said Monday that Trump would veto a Senate bill that would mandate congressional approval for new tariffs, a bet that the critical mass of Republican lawmakers will loyally back his taxes on imports despite the economic and political chaos being created.