In a sharp post, Donald Trump has threatened that if China does not revoke by tomorrow (8/4), Tuesday, retaliation with new 34% tariffs against the United States, then Washington will respond the next day with additional 50% tariffs on Chinese goods.

Trump denounced Beijing for “historically high tariffs”, “illegal non-monetary charges”, “illegal subsidies to businesses,” and “massive currency manipulation over time”. As he pointed out, these actions are chronic abuses of the U.S. trading system and can no longer go unaddressed.

“Despite my warnings,” he said, “any country that retaliates against the United States with additional tariffs on top of existing abuses will face new and significantly increased trade sanctions.”

In addition, he announced that any scheduled meetings or negotiations with China are cancelled immediately, while similar talks with other countries that have expressed interest will begin immediately.