U.S. President Donald Trump has announced that he will implement an additional 50 percent tariff on Chinese goods imported into the U.S. unless China withdraws its countermeasures. In a post on his social media platform, Truth Social, Trump said that the extra tariff would be imposed on Chinese goods unless China removed its 34 percent counter-tariff on American products by today.

Earlier on Wednesday, Trump declared that he would impose a 34 percent tax on Chinese imports as part of his “Liberation Day,” which involved a minimum 10 percent levy on nearly all of America’s trading partners. Trump criticized China for implementing its countermeasure, despite his warning that any country retaliating against the U.S. with additional tariffs would face new and significantly higher tariffs in response. In reply, Beijing argued that pressuring or threatening China is not the right way to engage.