The Dual Implicit Process Model (March et al., 2018b) distinguishes the implicit processing of physical threat (i.e., "Can it hurt or kill me?") from valence (i.e., "Do I dislike/like it?"). Five studies tested whether automatic anti-Black bias is due to White Americans associating Black men with threat, negative valence, or both. Studies 1 and 2 assessed how quickly White participants decided whether positive, negative, and threatening images were good versus bad when primed by Black versus White male-faces. Studies 3 and 4 assessed how early in the decision process White participants began deciding whether Black and White (and, in Study 3, Asian) male-faces displaying anger, sadness, happiness, or no emotion were, in Study 3, dangerous, depressed, cheerful, or calm or, in Study 4, dangerous, negative, or positive. Study 5 assessed how quickly White participants decided whether negative and threatening words were negative versus dangerous when primed by Black versus White male-names. All studies indicated that White Americans automatically associate Black men with physical threat. Study 3 indicated the association is unique to Black men and did not extend to Asian men as a general intergroup effect. Studies 3, 4, and 5, which simultaneously paired threat against negativity, indicated that the Black-threat association is stronger than a Black-negative association.