President Trump is literally doubling down on his ruinous tariff plans, saying that since China has retaliated to the original rate, he is now raising it a further 50%.

Trump’s original tariffs were more severe than businesses had feared, they have hit every single country Apple relies on, and saw the company’s share price implode, but now there is more. Even as the White House claimed it was fake news that Trump would consider pausing his tariffs, the President himself has announced punitive retribution for China having retaliated.

“[Despite] my warning 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,” wrote Trump on his Truth Social platform, “will be immediately met with new and substantially higher Tariffs, over and above those already set.”

“Therefore, 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 continued. “Additionally, all talks with China concerning their requested meetings with us will be terminated!”

In his original announcement, Trump imposed an additional 34% tariff on China, which brought the total to 54%. With the further 50%, he is now proposing a total of a 104% tariff on all good imported from China.

With one social media post, Trump has doubled the cost to Apple of every component or device it imports from its manufacturers in China.

Purely on the basis of the original tariffs, Trump had already knocked Apple’s shares back below $200. It was the company’s lowest share price since June 2024, and comes from the entire market collapsing over fears of inflation and even recession.

On the day, as of 11:45 AM eastern time, AAPL is down another 5.3% in another volatile trading day.