By Stefan J. Bos, Chief International Correspondent Worthy News
NEW YORK/BEIJING/BUDAPEST (Worthy News) – Stock futures rose in after-hours trading Monday with investors preparing to pick up cheap shares after the carnage linked to the tariffs announced by U.S. President Donald J. Trump.
Contracts tied to the Dow industrials, the S&P 500, and the tech-heavy Nasdaq-100 indexes in New York gained more than 1 percent. It came despite China threatening to retaliate against the U.S. if President Trump raises the tariff on Chinese goods by an additional 50 percent.
In Asia, where many economies are highly trade-reliant, Japanese stocks rose more than 5 percent after a widespread selloff on Monday.
In Europe, the Stoxx Europe 600 index sank 4.5 percent, while Bitcoin and oil prices also fell.
Yet the sudden rise in at least some stocks suggested investors were prepared to move in to pick up more affordable stocks despite Beijing threatening to target the U.S. with more tariffs.
China, the world’s second-largest economy, said it was furious that President Trump may carry out his threat to raise the tariff on Chinese goods by an additional 50 percent.
CHINA COUNTERMEASSURES
On Tuesday, a statement from the Ministry of Commerce said that if the U.S. escalates tariffs, “China will resolutely take countermeasures to safeguard its own rights and interests.”
Previously, China announced a blanket 34 percent tariff on American goods, matching the level of Trump’s April 2 tariff on Chinese imports.
“The U.S. threat to escalate tariffs on China is a mistake on top of a mistake, which once again exposes the U.S.’s blackmail nature,” the commerce ministry added. “If the U.S. insists on its own way, China will fight to the end.”
Yet in Washington, a defiant Trump said he would not remove his tariffs on Chinese goods.
In a message on his Truth Social media platform, Trump warned that “any country that Retaliates against the U.S. by issuing additional Tariffs, above and beyond their already existing long term Tariff abuse of our Nation, will be immediately met with new and substantially higher Tariffs, over and above those initially set.”
He added, “Therefore, 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.”
Copyright 1999-2025 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
More Worthy News
An international group of influential climate activists demand a new global treaty to phase out fossil fuels to prevent the “assassination of humanity,” despite growing concerns that there aren’t yet enough alternatives available to sustain global economic growth.
A coalition of American Christian leaders gathered on the steps of the U.S. Capitol on Friday to pray and “thank President Donald J. Trump” for reportedly designating Nigeria as a “Country of Particular Concern” (CPC) over the killing of thousands of Christians by Islamic groups.
The student revival movement that has been shaking campuses across America surged again Tuesday night as more than 6,000 students packed J.S. Dorton Arena at North Carolina State University to worship Jesus Christ, hear the Gospel, and respond to the call of salvation.
The U.S. Justice Department came under mounting pressure to release all files related to deceased convicted sex offender Jeffrey Epstein, despite strong opposition from the White House and signs that U.S. President Donald J. Trump is reluctant to make the documents fully public.
France paid an emotional tribute Thursday to the 130 people killed ten years ago during a night of coordinated attacks by Islamic State extremists who targeted cafés, restaurants, and the Bataclan concert hall in Paris.
The Trump administration on Nov. 13 finalized a sweeping rollback of Biden-era restrictions on oil and gas development in Alaska, restoring access to more than 13 million acres of the National Petroleum Reserve–Alaska (NPR-A) in a move officials say will bolster U.S. energy security and revive North Slope communities.
The United States on Thursday urged the UN Security Council to support Washington’s draft resolution establishing an International Stabilization Force (ISF) to secure postwar Gaza and guide the territory into a future “free from Hamas.” The measure — a central pillar of President Donald Trump’s broader Middle East peace framework — has been crafted with input from Qatar, Egypt, Saudi Arabia, Turkey, and the United Arab Emirates.