Trump threatens 50% more tariffs on PRC; Trouble for Liu He's son; TikTok

President Trump earlier today threatened to increase US tariffs on imports from the PRC by another 50% unless China “withdraws” the 34% tariff increase By April 8th, and that if they do not back down “all talks with China concerning their requested meetings with us will be terminated!”. In his post on Truth Social he wrote:

An additional 50% would take the tariff rate on PRC imports to somewhere around 120%, far higher than I think anyone had modeled, and at a level that would likely decimate US-China trade. Does anyone think Xi will back down?

Whether or not a key goal of this messy and seemingly incoherent process is to isolate China and block its use of third party countries to trans-ship goods to the US, Xi must believe it is.

US-China relations seem like they may already in a much worse place than they ever were during the first Trump Administration.

Today’s top items:

1. Tariffs - I do not think the PRC did scenario planning for 120% US tariffs. What in their toolbox can they use …