President Trump mentioned on Monday that he doesn’t plan to pause a slate of expansive tariffs set to take impact later this week, as he threatened to topic Chinese language imports to a staggering 104 % tax in a bid to thrust back retaliation by Beijing and different powers.

Mr. Trump issued his warning on a day when the White Home as soon as once more discovered itself on the defensive for its spiraling international commerce conflict. However the president insisted he remained unbowed by the widening vary of governments pleading for aid and the markets convulsing anew over the chaos and confusion.

“We’re not taking a look at that,” Mr. Trump mentioned, when requested a few attainable pause on his tariffs. “We’re going to have one shot at this and no different president goes to do what I’m doing.”

Mr. Trump started the day by drawing new battle traces over his so-called reciprocal tariffs, which he plans to impose on sure nations after midnight on Wednesday. The taxes, which may attain as excessive as 46 % for some nations, will snap into impact simply days after the president imposed a minimal 10 % levy on almost each U.S. buying and selling companion.

Mr. Trump particularly focused China, which introduced final week it could match the USA by imposing a retaliatory 34 % tax on imports from America. In a put up on Reality Social, the president demanded that Beijing rescind its retribution or face an extra 50 % U.S. tariff starting April 9. He additionally threatened to halt any additional negotiations.

The escalation may carry the U.S. tariff on Chinese language items to 104 %, although for some merchandise, the speed is prone to be a lot greater due to levies that date again to Mr. Trump’s first time period. Taken collectively, it may show pricey for importers bringing in clothes, cellphones, chemical compounds and equipment from China. American shoppers final 12 months purchased $440 billion of products from China, making it the second-largest supply of U.S. imports after Mexico.

Mr. Trump coupled his ultimatum to China with a pledge to challenge punishing, further tariffs on different U.S. buying and selling companions in the event that they equally attempt to rebuff his insurance policies. However his assaults didn’t seem to dissuade some opponents, together with the European Union, the place officers ready to flow into an inventory of U.S. merchandise that they might quickly topic to retaliation.

With international tensions rising, Mr. Trump’s technique triggered one other day of unease on Wall Road. The S&P 500 fell 0.2 %, now virtually 18 % under its mid-February peak. The tech-heavy Nasdaq Composite index, which additionally noticed dramatic swings all through the day, ended barely greater.

In an indication of investor frustration over the tariffs, an faulty information report earlier within the day, suggesting that the president would possibly pause his commerce conflict, sparked an instantaneous rally — solely to see shares simply as rapidly plummet once more, after the White Home made clear no such pause was within the offing.

Nonetheless, administration officers appeared to go away open the door for negotiations that might finally defuse the commerce conflict, citing the truth that greater than 50 nations — together with, most just lately, Israel, Japan and Vietnam — had approached the U.S. authorities in current days to strike offers. After visiting with the president on the White Home, Israeli Prime Minister Benjamin Netanyahu pledged Monday that his nation would “get rid of the commerce deficit with the USA,” whereas decreasing different commerce obstacles “pretty rapidly.”

However White Home officers have sought to set a excessive bar for what the president is keen to simply accept, marking a shift in tone after Mr. Trump and his aides initially signaled they’d not haggle over tariffs in any respect.

“If they arrive to us with actually nice offers that benefit American manufacturing and American farmers, I’m positive he’ll hear,” Kevin Hassett, the director of the White Home Nationwide Financial Council, mentioned in an interview on Fox Information.

Mr. Hassett mentioned some nations had proposed “some offers which might be nice,” however added of the president: “After a long time and a long time of mistreating American staff, it’s going to be robust to get him to resolve to essentially come to the desk and signal on the dotted line.”

Peter Navarro, a senior White Home commerce adviser, particularly mentioned that different nations wanted to do greater than decrease their very own tariffs to safe aid from the USA. Showing on CNBC, he cited a necessity to cut back “dishonest” and different obstacles that limit American items in international markets.

And Stephen Miran, the top of the White Home Council of Financial Advisers, mentioned presents by international nations “could be welcomed by the USA.” He added at an occasion in Washington that the president had been “very clear that we would like elevated entry to international markets that might increase our exports.”

With seemingly no finish to the commerce conflict in sight, economists as soon as once more have been left to grapple with the prospect that top tariffs may elevate costs on shoppers, sluggish U.S. progress and tip the nation right into a recession. Tariffs are taxes on imports, which companies could wrestle to afford, doubtlessly leading to these corporations passing on the brand new prices to clients.

Jay Foreman, the chief government of toy firm Fundamental Enjoyable, known as the president’s new menace towards China “unhinged.”

Mr. Foreman mentioned he had simply initiated a whole maintain on all shipments of his merchandise from Asia. “I can not danger placing any product on the water which may incur, at this level, a 54 % to 104 % tariff,” he mentioned. “It’s one factor to attempt to soak up or move alongside 10 % to twenty %, however 54 % to 104 %, it’s not possible. The buyer will simply shut down.”

Jeanna Smialek and Danielle Kaye contributed reporting.