President Donald Trump's tariffs threaten to paralyze international trade, risking market collapse and a global recession.

Trump is threatening to jack up tariffs on China by an additional 50% unless Beijing abandons its retaliatory duties on U.S. imports.

Trump in a Truth Social post gave China until Tuesday to undo its 34% tariffs, imposed in response to the “reciprocal” duties unveiled at the White House last week.

Trump also wrote that he will cancel all planned talks with China if they do not comply with his demand.