14:34 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Apple airlifts 600 tons of iPhones from India ‘to beat’ Trump tariffs, sources say
Tech giant Apple chartered cargo flights to ferry 600 tons of iPhones, or as many as 1.5 million, to the United States from India, after it stepped up production there in an effort to beat President Donald Trump’s tariffs, sources told Reuters. The details of the push provide an insight into the US smartphone company’s private strategy to navigate around the Trump tariffs and build up inventory of its popular iPhones in the United States, one of its biggest markets. Analysts have warned that US prices of iPhones could surge, given Apple’s high reliance on imports from China, the main manufacturing hub of the devices, which is subject to Trump’s highest tariff rate of 125%.
That figure is far in excess of the tariff of 26% on imports from India, but which is now on hold after Trump called a 90-day pause this week that excludes China. Apple “wanted to beat the tariff,” said one of the sources familiar with the planning. The company lobbied Indian airport authorities to cut to six hours the time needed to clear customs at the Chennai airport in the southern state of Tamil Nadu, down from 30 hours, the source added. The so-called “green corridor” arrangement at the airport in the Indian manufacturing hub emulated a model Apple uses at some airports in China, the source said.
About six cargo jets with a capacity of 100 tons each have flown out since March, one of them this week just as new tariffs kicked in, the source and an Indian government official said. The packaged weight of an iPhone 14 and its charging cable come to about 350 grams (12.35 oz), Reuters measurements show, implying the total cargo of 600 tons comprised about 1.5 million iPhones, after accounting for some packaging weight. Apple and India’s aviation ministry did not respond to a request for comment. All the sources sought anonymity as the strategy and discussions were private. Apple sells more than 220 million iPhones a year worldwide, with Counterpoint Research estimating a fifth of total iPhone imports to the United States now come from India, and the rest from China.
Trump consistently increased US tariffs on China, to stand at 125% by Wednesday, from 54% earlier. At the 54% tariff rate, the $1,599 cost of the top-end iPhone 16 Pro Max in the United States would have surged to $2,300, calculations based on projections by Rosenblatt Securities show.
(Reuters)
14:27 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Trump signs order to revive US shipbuilding, target China’s maritime dominance
US President Donald Trump on Wednesday signed an executive order to revitalize US shipbuilding and curb China’s dominance in the global shipping sector, pledging to spend “a lot of money on shipbuilding.” “We used to build a ship a day, and now we don’t do a ship a year, practically,” he said. The order mandates the US Trade Representative (USTR) to finalize remedies—such as million-dollar port fees on ships tied to Chinese-built or -flagged fleets—by April 17. USTR Jamieson Greer clarified that not all proposed measures would be enforced, saying, “now we consider which of those measures is most appropriate.”
Lawmakers from both parties, including Senators Mark Kelly and Todd Young, backed the move and plan to reintroduce legislation to support the initiative. The order also calls for tariffs on Chinese-origin ship-to-shore cranes, enforcement of harbor fees, and the creation of a Maritime Security Trust Fund to boost US maritime capacity. China dismissed US claims of unfair competition, with foreign ministry spokesperson Lin Jian stating, “The development of China’s shipbuilding industry is the result of technological innovation and active participation in market competition by enterprises.”
(With inputs from Reuters)
14:06 (IST) 10 Apr 2025
Trump Tariffs Live Updates: EU welcomes Trump’s tariff pause, keeps quiet on retaliatory duties
European Commission President Ursula von der Leyen on Thursday welcomed President Donald Trump’s decision to “temporarily halt” most US tariffs, calling it “an important step towards stabilizing the global economy,” but did not say whether the European Union would still move forward with its approved retaliatory measures. Trump announced a “90 day PAUSE” for countries that had not retaliated, with a new tariff rate of 10%. The EU’s previous rate was 20%, but it remained unclear how the 27-nation bloc would be impacted.
Von der Leyen emphasized that “clear, predictable conditions are essential for trade and supply chains to function.” While the EU had voted to approve retaliatory tariffs on $23 billion in goods—set to take effect in stages starting April 15—the commission “will now take the necessary time to assess this latest development, in close consultation with our member states and industry, before deciding on next steps,” spokesman Olof Gill said. Von der Leyen reiterated the EU’s commitment to “achieving frictionless and mutually beneficial trade” and said the bloc would keep “engaging with countries that account for 87% of global trade and share our commitment to a free and open exchange of goods, services, and ideas.”
(With inputs from AP)
13:30 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Taiwan eyes $200 billion in US purchases, higher LNG imports amid trade talks
Taiwan could buy an additional $200 billion worth of goods from the US over the next decade and increase its share of liquefied natural gas (LNG) imports from 10% to 30% as part of ongoing trade talks, Economy Minister Kuo Jyh-huei told parliament on Thursday. This move, led by state-backed entities, aims to help narrow the trade deficit, though it excludes private company purchases. “That was the ‘direction’ being eyed,” Kuo said, noting Taiwan’s LNG currently comes mostly from Australia and Qatar. President Lai Ching-te has pledged to seek a zero-tariff regime with the US, increase investment and purchases, and avoid retaliatory tariffs—even as a 32% tariff, now paused by President Donald Trump, had spooked markets. Foreign Minister Lin Chia-lung added, “We hope to take advantage of the huge US market… to form a Taiwan-US coalition, a joint fleet approach.” The US has received Taiwan’s trade proposals and responded, Lin said, without elaborating.
Taiwan’s benchmark stock index jumped a record 9.3% on Thursday following three days of steep losses, as investors reacted to the US tariff reprieve. Shares of TSMC and Foxconn, both key US suppliers, rebounded nearly 10%. Despite the rally, Taiwan’s central bank governor Yang Chin-long warned of lingering global uncertainty due to Trump’s tariff moves. “At present more than 80% [of reserves in US Treasuries] is ideal, and we will assess whether to increase it,” Yang said. Premier Cho Jung-tai noted the government would seize the opportunity for “direct and effective” talks with Washington.
(With inputs from Reuters)
13:17 (IST) 10 Apr 2025
Trump Tariffs Live Updates: China says it does not fear more US tariff threats
China is not interested in a fight but will not fear if the United States continues its tariff threats, the Chinese foreign ministry said in reply to questions about the US tariffs on Thursday. “The US cause doesn’t win the support of the people and will end in failure,” ministry spokesperson Lin Jian said at a regular press conference. China will not sit back and let the legitimate rights and interests of the Chinese people be deprived, Lin said.
(Reuters)
12:58 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Asia credit default spreads narrow as markets rally
The cost of insuring against defaults in Asian debt fell on Thursday as investors breathed a sigh of relief at a pause on some of the heaviest US tariffs. The five-year credit default swap spread on the Markit Itraxx Asia ex-Japan index, comprising sovereign and company debt, fell about 8 basis points to 114 bps, according to S&P Global Market Intelligence. Five-year CDS spreads on the Itraxx Japan index fell about 18 bps to 76.75 bps. The moves unwind without fully reversing a recent spike on fears that US tariffs tip the world into recession.
(Reuters)
12:44 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Europe and United States can reach ‘win-win’ trade deal, Greek PM says
Europe and the United States could reach a “win-win” trade deal which could be beneficial to both parties, Greek Prime Minister Kyriakos Mitsotakis said in an interview published late on Wednesday. In a stunning reversal, Trump said on Wednesday he would temporarily lower the hefty duties he had just imposed on dozens of countries while further ramping up pressure on China, sending global stocks rocketing higher. “On the European front there is a possibility of finding a win-win solution when it comes to trade, a solution which will be mutually beneficial,” Mitsotakis told US news network Breitbart from his office in Athens.
The European Union on Wednesday agreed to launch its first countermeasures against US tariffs next week. But European Commission President Ursula von der Leyen on Thursday welcomed Trump’s announcement of the pause. Mitsotakis said that there was “still room for negotiations” with the United States before Europe considered any major reciprocal response beyond what had been announced on Wednesday. “Europe and the European market is very important for the US and US is important for Europe and we need to work out a solution.”
(Reuters)
12:29 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Safe havens rebound as Trump escalates trade war with China
Traders swept back into safe havens like the yen and Swiss franc on Thursday after US President Donald Trump ramped up his trade war against China even as he abruptly paused tariffs for 90 days on many other nations. Gold rallied back towards its record peak, despite Asian equity markets ripping higher following the White House’s unexpected U-turn. Treasury bonds gained in Asian hours, reversing the direction for US yields and putting the dollar under broad pressure. Several analysts also spoke about a brewing crisis of confidence in the US currency as a result of Trump’s flip-flops on trade policy.
The risk-sensitive Aussie and New Zealand dollars, exposed to China’s fortunes due to close trade ties, initially reversed some of their eye-watering rallies from Wednesday, but turned higher again with the stock rally set to sweep into Europe. The Chinese yuan briefly slipped to its lowest since the global financial crisis 2007/2008, but was last trading slightly higher. Trump maintained a baseline tariff rate of 10% on most countries as he stunned markets by awarding a 90-day reprieve on his “Liberation Day” reciprocal levies that had gone into effect less than 24 hours earlier.
At the same time, he singled out China for additional levies, taking the tariff rate to 125% for Chinese imports with immediate effect, after Beijing countered previous US duties with an 84% tariff rate. “Regardless of how the next 90 days evolve, the US’s international reputation has been eroded,” ANZ analysts said in a note to clients. “The US dollar’s valuation extremes against some currencies seem increasingly unjustified in the medium term.” US Treasury Secretary Scott Bessent said on Wednesday that the sweeping tariff pullback had been the plan all along to bring countries to the bargaining table.
(Reuters)
12:26 (IST) 10 Apr 2025
Trump Tariffs Live Updates: US tariffs may cut Indonesia growth by up to 0.5 percentage points, minister says
Planned US tariffs could reduce Indonesia’s potential growth by 0.3 to 0.5 percentage points, but a 90-day pause in implementing the levies allows time to discuss solutions, Indonesia’s finance minister told Reuters on Thursday. Minister Sri Mulyani Indrawati said Indonesia welcomes the 90-day pause as it provided an opportunity to mitigate or avoid the downside risks from tariffs to economic growth. “The estimated current situation, before the pause, could reduce our potential growth by between 0.3% of GDP up to 0.5%,” she said in an interview on the sidelines of the ASEAN finance ministers and central bank governors meeting in Malaysia.
Indonesia has set a 5.2% GDP growth target this year versus 5.03% achieved last year. President Prabowo Subianto, however, wants to jack up the growth to 8% by 2029. Indonesia’s authorities have said the U.S. tariffs would have a limited impact on the economy, which relies more on the domestic market. The US was Indonesia’s third-biggest export destination as of last year, receiving shipments worth $26.3 billion, according to Indonesian government data. Sri Mulyani said Indonesia would use the 90-day tariffs pause to come up with a framework of cooperation that was “mutually respected” by other countries.
“We have to continue to be very prudent… Expenditure should be made more efficient, well-targeted and effective in supporting growth on the monetary side.” She said the recent pressure on the rupiah currency, which is at all-time lows, was temporary, adding the government remained focused on indicators such as corporate debt and government debt-to-GDP. The rupiah strengthened as much as 0.83% to 16,720 a dollar on Thursday as of 0512 GMT, according to LSEG data, after hitting an all time low for two days straight since the market reopened on Tuesday.
(Reuters)
12:02 (IST) 10 Apr 2025
Trump Tariffs Live Updates: China seeks allies as US tariffs rise; mixed global response to Beijing’s outreach
As the US ramps up tariffs, China is reaching out to other nations in an effort to form a united front against Washington—so far with mixed results. President Donald Trump paused most tariffs for 90 days amid global market turmoil but hiked duties on Chinese imports to 125% after Beijing refused talks, accusing the US of being “insincere” and pledging to “fight to the end.” In response, China imposed 84% tariffs on US goods, saying the trade war violates WTO rules and threatens the global economic order.
Beijing’s diplomacy has centered on Europe, with Premier Li Qiang and European Commission President Ursula von der Leyen holding talks “sending a positive message to the outside world.” Commerce Minister Wang Wentao called the US tariffs a “typical act of unilateralism, protectionism and economic bullying,” but added, “China is willing to resolve differences through consultation and negotiation.” Despite these efforts, countries like Australia and India have declined to align with Beijing. “We speak for ourselves… we stand on our own two feet,” said Australian Prime Minister Anthony Albanese. Southeast Asian exporters, meanwhile, find themselves caught in the middle—facing tariffs despite earlier gains from factories relocating out of China.
(With inputs from AP)
11:09 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Thai consumer confidence hits 5-month low in March on tariff concerns
Thai consumer confidence dropped for a second straight month in March to hit its lowest level in five months due to higher living costs, sluggish economic growth and concern over U.S. trade tariffs, a survey showed on Thursday. The consumer index of the University of the Thai Chamber of Commerce fell to 56.7 in March from 57.8 in February, the university said in a statement. “It’s clear that the fallen confidence index was driven by the trade war, which may cause problems for Thai exports and tourism and slow economic recovery,” university president Thanavath Phonvichai told a press conference.
Thailand is among the countries in Southeast Asian nations hardest hit by US President Donald Trump’s measures, with a much bigger than expected 36% tariff. However, a 90-day pause on the US tariffs announced overnight will give officials more time to prepare a response. Trump said he would temporarily lower the hefty duties he had just imposed on dozens of countries, while further ramping up pressure on China.
Thanavath said if Thailand could negotiate to bring the tariffs down to 10%, the damage could be around 100 billion baht to 150 billion baht ($2.93 billion-$4.40 billion), lowering growth by 0.7 to 0.9 percentage points. When the 36% tariff was announced last week, Finance Minister Pichai Chunhavajira said it could cut growth in Southeast Asia’s second-largest economy by 1 percentage point. The economy grew just 2.5% last year, lagging regional peers. Thailand has said it would increase imports from the United States and cut tariffs as it seeks to negotiate a better deal.
(Reuters)
10:51 (IST) 10 Apr 2025
Trump Tariffs Live Updates: India eyes quick trade deal with US amid tariff pause, official says
India wants to move quickly on a trade deal with the United States, a government official said, after President Donald Trump’s stunning decision to pause hefty reciprocal tariffs he had just imposed on dozens of countries, except for China. “The 90-day pause on reciprocal tariffs is a relief for Indian exporters, especially shrimp exporters,” said the official, who spoke on condition of anonymity.
(Reuters)
10:11 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Japan nominates ex-Mitsubishi Corp executive Masu to BOJ board
The Japanese government on Thursday nominated Kazuyuki Masu, a former chief financial officer of trading house Mitsubishi Corp, to join the central bank’s nine-member policy board. Masu would replace former Hitachi executive Toyoaki Nakamura, seen as among the most dovish members of the central bank’s board. If formally approved by parliament, 66-year-old Masu would begin his five-year term on July 1, as Nakamura serves out his term a day before.
He will fill a post traditionally reserved for a business executive on the Bank of Japan board, which comprises academics, economists, career bureaucrats and senior officials from the finance and corporate sectors. Masu joined Mitsubishi in 1982 and mainly served finance and accounting positions at the trading house. He retired as CFO in 2022. He is currently a council member of the Japanese Institute of Certified Public Accountants.
The appointment comes as Trump’s decision to impose sweeping tariffs worldwide, including on Japan, complicates the BOJ’s plan to continue raising interest rates from still-low levels. The BOJ exited a radical stimulus programme in March last year and raised interest rates to 0.25% in July and to 0.5% in January on the view that Japan was on the cusp of sustainably achieving its 2% inflation target. Nakamura voted against the BOJ’s decision to end negative rates and the two rate hikes, due to concerns over the potential damage to small and mid-sized firms. His departure follows the appointment in March of Junko Koeda, an academic known as a fiscal and monetary hawk who succeeded another dovish member, tipping the board increasingly in favour of steady rate hikes.
(Reuters)
09:42 (IST) 10 Apr 2025
Trump Tariffs Live Updates: US inflation likely slowed in March, but tariff pressures loom
Inflation likely eased in March, with falling energy, used car, and hotel prices expected to pull consumer price growth down to 2.6% from 2.8% in February, according to FactSet estimates. Core inflation, excluding food and energy, is seen at 3%, down from 3.1%. Though cooling, inflation remains above the Federal Reserve’s 2% target. Core prices are forecast to rise 0.3% month-over-month—still too high for the Fed’s comfort. Tariffs could soon reverse the trend. President Donald Trump recently paused sweeping duties on 60 nations for 90 days but left in place a 10% universal tariff and 25% duties on steel, aluminum, cars, and many goods from Canada, Mexico, and China.
Tariffs on Chinese imports have risen to 125% after retaliation. Consumers may soon feel the impact. The US imports over $60 billion worth of phones and vast quantities of clothing, shoes, and toys from China. Though companies have started shifting supply chains away from China, the process is costly and slow. “There’s a lot of waiting and seeing going on, including by us,” said Fed Chair Jerome Powell, signaling interest rates will stay near 4.3% for now. “That just seems like the right thing to do in this period of uncertainty.”
(With inputs AP)
09:33 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Global trade war may produce headwinds for nascent AI sector, IEA says
An escalating global tariff war could provide challenges for the emerging data centre sector and cause slower growth, Laura Cozzi, the International Energy Agency (IEA) Director of Technology told Reuters. The US, China and the European Union together are set to account by 2030 for 80% of the forecast growth in data centre demand growth, which is expected to be dominated by Artificial Intelligence (AI) use, the IEA said in a report on Thursday.
The report’s headwind scenario “encompasses many of the things we are seeing – slower economic growth, more tariffs in more countries, so indeed yes (the current tariff environment) is a scenario in which AI would see a slower growth than what we see in our base case,” Cozzi said. Global electricity consumption from data centres is expected to rise to around 945 terawatt hours (TWh) by 2030 in the IEA’s base case scenario, but the “headwind scenario” would see that drop to 670 TWh, IEA data showed.
In the United States, data centres are expected to account for nearly half of electricity demand growth between now and 2030, and the country is expected to lead in data centre development globally, according to IEA data. US electricity utilities have been fielding massive requests for new capacity that would exceed their peak demand or existing generation capacity, raising concerns that tech companies are approaching multiple power utility providers, inflating the demand outlook. The report aims to work with tech companies and industry to make sense of the real queue for data centres, which is ultimately going to be essential for AI to get the electricity it needs, Cozzi said.
Strain on grids could also lead to project delays, with about 20% of planned data centre projects at risk. Demand for transmission lines and critical grid and generation equipment are in high demand, reflecting this risk, the IEA report said. Some 50% of data centres under development in the United States are in pre-existing large clusters, potentially raising risks of local bottlenecks, it said.
(Reuters)
09:17 (IST) 10 Apr 2025
Trump Tariffs Live Updates: China’s yuan falls to weakest since financial crisis on intensifying trade tension
China’s yuan on Thursday fell to its lowest value against the US dollar since the global financial crisis, with the central bank cutting guidance for the sixth successive trading session against a backdrop of intensifying Sino-US trade tension. The country has imposed steep tariffs on US imports in response to similar US action. Though US President Donald Trump said he would temporarily lower duties recently imposed on dozens of countries, he increased those on China goods. “The US and China are currently in a powerplay game of brinkmanship,” said ING global head of markets Chris Turner. “Until a deal is announced or a big, bilateral meeting confirmed, USD/CNY will now be the focal attention of the FX market.”
A weaker yuan would make Chinese exports cheaper and alleviate tariff impact on the economy. However a sharp decline could increase unwanted capital outflow pressure and risk financial stability, analysts and economists said. The central bank will not allow sharp yuan declines and has instructed major state-owned lenders to reduce dollar purchases, people with knowledge of the matter told Reuters. The onshore yuan slipped to 7.3518 a dollar in early trade, its weakest since December 26, 2007. It has lost about 1.2% this month and was last down 0.03% at 7.3464 as of 0313 GMT. Its offshore counterpart was at 7.3592 at 0313 GMT, down 0.17%. It hit an all-time low of 7.4288 on Tuesday.
Prior to market open, the People’s Bank of China set the midpoint – around which it allows the yuan to trade in a 2% band – at 7.2092, the weakest since September 11, 2023. That compared with the 7.3484 Reuters estimate. The central bank has been lowering the midpoint at a measured pace, with Thursday’s cut contributing to the day’s decline, traders said. The PBOC loosened its grip on the yuan this week by allowing the currency to weaken past 7.2. Still, its guidance is stronger than market projections in what traders and analysts interpreted as an attempt to keep the yuan steady.
The bank is focusing on a steady yuan even as the trade war challenges the competitiveness of China’s export sector, indicating that stability remains the priority. “A modest, gradual depreciation of the yuan is still the preference,” Societe Generale economists said in a client note. China will only allow gradual depreciation as stability matters for confidence in Chinese assets, and the tariffs are “just too big to be offset by FX depreciation,” they said.
(Reuters)
09:05 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Oil retreats despite tariff pause as US-China trade war escalates
Oil prices retreated on Thursday as US President Donald Trump ramped up a trade war with China, even as he announced a 90-day pause on tariffs aimed at other countries. Brent futures fell 77 cents, or 1.18%, to $64.71 a barrel by 0320 GMT, while U.S. West Texas Intermediate crude futures fell 65 cents, or 1.04%, to $61.70. Following the tariff pause for most countries, the benchmark crude contracts had settled 4% higher on Wednesday after dropping as much as 7% during the session.
Trump, however, raised the tariff rate for China to 125% effective immediately, from the previously announced 104% tariff that had kicked off earlier on Wednesday. The higher US tariffs on China leave plenty of uncertainty in the markets, ING commodities strategists said in a research note on Thursday. “This uncertainty is still likely to drag on global growth, which is clearly a concern for oil demand,” they said. “The ICE Brent forward curve is signalling a better-supplied oil market,” the strategists said, with ICE Brent shifting into contango from the January 2026 contract onwards.
China also announced an additional import levy on US goods, imposing an 84% tariff from Thursday. “We may expect oil prices to resume its broader downward trend once the optimism around the recent tariff reprieve fades,” said Yeap Jun Rong, market strategist at online trading platform IG. “Demand-side headwinds persist, with China’s growth outlook at risk from the ongoing tit-for-tat,” Yeap said. Investors were eyeing mixed supply drivers as well. “Prices also found some support after the Keystone Pipeline declared force majeure on scheduled oil shipments,” said ANZ Research analysts on Thursday, noting though there were downside risks on signs of surging supply from OPEC members.
The Keystone oil pipeline from Canada to the United States remained shut on Wednesday following an oil spill near Fort Ransom, North Dakota, while plans to return it to service were being evaluated, its operator South Bow said. Elsewhere, the Caspian Pipeline Consortium resumed loading oil at one of two previously shut Black Sea moorings, it said on Wednesday, after a court lifted restrictions put on the Western-backed group’s facility by a Russian regulator. In the United States, crude inventories rose by 2.6 million barrels in the week to April 4, the Energy Information Administration said, nearly double the expectations in a Reuters poll for a 1.4-million-barrel rise.
(Reuters)
08:53 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Asia stocks zoom after Trump pauses tariffs for most countries; Nikkei jumps 8.8%
Asian markets soared Thursday after US President Donald Trump announced a 90-day pause on most of his newly imposed tariffs, setting off a global rebound that followed Wall Street’s dramatic surge overnight. Japan’s benchmark Nikkei 225 led the way, jumping 8.8 per cent to 34,510.86 in morning trading.
Other regional indexes followed suit: the Topix in Japan rose 7.9 per cent to 2,534.89, Australia’s S&P/ASX 200 gained 5.1 per cent, and South Korea’s Kospi added 5.2 per cent. Markets in Hong Kong and Shanghai were also up. Hong Kong’s Hang Seng added 2.8 per cent to 20,821.48. The Shanghai Composite edged up 0.6 per cent to 3,207.35. Stephen Innes, managing partner at SPI Asset Management, called the reaction “from fear to euphoria,” according to Reuters.
“It’s now a manageable risk, especially as global recession tail bets get unwound, and most of Asia’s exporters breathe a massive sigh of relief,” he said, referring to the tariffs on China, which Trump has kept on.
(Read full report)
08:42 (IST) 10 Apr 2025
Trump Tariffs Live Updates: China’s deflation persists as trade war clouds outlook
China’s consumer and factory prices continued to fall in March, underlining persistent deflation and weak demand amid rising US trade pressure. Consumer prices dropped 0.1% year-on-year, missing expectations, while factory-gate prices fell 2.5% — the sharpest decline in four months, according to official data. “Deflationary pressures persisted last month and will almost certainly deepen over the coming quarters,” said Julian Evans-Pritchard of Capital Economics, citing export risks and commodity price drops.
The National Bureau of Statistics blamed falling energy demand and global crude prices for the deeper factory deflation. Core inflation rose 0.5%, offering some relief, but consumption remains fragile. Citi economists forecast a 1–1.5 trillion yuan stimulus mid-year, with potential support via subsidies and low-income aid. While US President Trump eased tariffs on some nations, he doubled down on China, threatening duties of up to 125%. “Support for domestic demand may not be enough to offset weaker exports,” Evans-Pritchard added.
(With inputs from Reuters)
08:31 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Ackman’s Pershing Square Holdings fund drops nearly 14% so far this year
Billionaire investor Bill Ackman’s Pershing Square Holdings portfolio has lost nearly 14% so far this year, the firm told investors on Wednesday. The losses, through April 8, do not include gains seen on Wednesday, when markets surged after US President Donald Trump paused most tariffs for 90 days. The losses, primarily incurred over the previous week, reflect sharp global declines as investors reacted to the Trump administration’s plans to impose heavy tariffs on nearly all trading partners.
In the first quarter, Pershing Square Holdings slipped just 1.2%. Ackman invests in a select group of US stocks, including Nike and Chipotle Mexican Grill, both of which have suffered losses since January but saw double-digit gains on Wednesday. His portfolio is closely watched in the industry for investment trends.
Long known as one of Wall Street’s most outspoken investors, Ackman took to X this week to express his dismay about the proposed tariffs, warning they could push the economy into recession. He suggested holding tariffs at 10% across the board, keeping pressure on China, while pausing reciprocal tariff implementation for 90 days.
Trump on Wednesday paused the tariffs, and the S&P 500 index jumped more than 9%. Ackman has delivered some of the hedge fund industry’s strongest returns, including a remarkable 70.2% gain in 2020, the year the COVID-19 pandemic struck.
(Reuters)
08:15 (IST) 10 Apr 2025
Trump Tariffs Live Updates: China, EU vow closer trade ties as Trump’s tariffs take effect
China and the European Union have agreed to strengthen economic and trade cooperation in response to US tariffs, Beijing said on Thursday. In a video call on Tuesday, Chinese Commerce Minister Wang Wentao and European Commissioner Maros Sefcovic discussed restarting trade relief talks and immediately launching negotiations on electric vehicle (EV) price commitments, the Commerce Ministry said.
The conversation came just before US President Donald Trump’s new tariffs on China took effect. While Trump later said he would temporarily ease duties for some countries, he threatened to raise tariffs on Chinese goods to 125%. Wang said China was ready to deepen trade, investment, and industrial ties with the EU. He urged both sides to defend the rules-based multilateral trade system and promote liberalisation to “inject more stability and certainty” into the global economy. They also discussed improving the business environment and managing trade transfer issues, while agreeing to coordinate on World Trade Organization (WTO) reforms.
The EU had imposed up to 35.3% additional tariffs on Chinese EVs in October, following an anti-subsidy probe. Talks on minimum price commitments are expected to resume, though no timeline has been set.
(Reuters)
08:04 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Japan’s Nikkei surges on relief after Trump pauses tariffs
Japan’s Nikkei share average jumped on Thursday as investors scooped up beaten-down stocks after US President Donald Trump declared an immediate 90-day tariff pause for many countries. As of 0147 GMT, the Nikkei was up 7.9% at 34,226.17, while the broader Topix climbed 7.2% to 2,518.26. “Investors bought back stocks today, wishing that they had not dumped stocks in the previous session,” said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory.
“But the rally also means that the market was too bearish about the impact of Trump’s tariffs,” Suzuki said. In a stunning reversal, Trump said on Wednesday he would temporarily lower the hefty duties he had just imposed on dozens of countries while further ramping up pressure on China, sending US stocks rocketing. The Nikkei saw huge volatility this week, closing 6% higher on Tuesday after a 7.8% slump on Monday to a 1-1/2-year low. The index closed 4% lower on Wednesday.
Thursday’s rally followed surges on Wall Street overnight, with the S&P 500 soaring 9.5% for its biggest daily gain since 2008. Uniqlo-brand owner Fast Retailing jumped 7.2% to provide the biggest boost to the index. Chip-related shares surged, with Tokyo Electron and Advantest advancing 11.77% and 13.66%, respectively. All of the Tokyo Stock Exchange’s (TSE) 33 industry sub-indexes rose, with the nonferrous sector surging 12.65% to become the top gainer. The banking sector, which was hit hard by worries about the economic slowdown, rose 9.2%.
Morgan Stanley analysts said Trump’s decision is bullish for Asia equities and most bullish for Japan equities. That is because Japan “has a strong underlying reflationary dynamic but came closest in our coverage to pricing in such a recession at the lows on Monday,” Morgan Stanley said in a note. All but one of the 225 stocks on the Nikkei rose. Of more than 1,600 stocks trading on the TSE’s prime market, 99% of the shares rose.
(Reuters)
07:53 (IST) 10 Apr 2025
Trump Tariffs Live Updates: ‘Reciprocal tariff pause by Trump gives breathing room for more detailed talks,’ says Taiwan
After US President Donald Trump announced a stunning reversal of his reciprocal tariffs and paused it for 90 days, Taiwan’s foreign minister said that it has given breathing space for more in-depth talks, and that the island nation hopes to take advantage of the “huge” US market for a balanced trade.
Taiwan Foreign Minister Lin Chia-lung said that government is dedicated to increase its purchase from its investments made in the United States and subsequently reduce its trade surplus with America, which is considered as its most important international backer.
“Now that we have an additional 90 days, we can discuss Taiwan-U.S. economic and trade cooperation in a more detailed and in-depth manner. We hope to take advantage of the huge U.S. market, their excellent technology capital and talent, to form a Taiwan-U.S. coalition, a joint fleet approach,” minister Lin said, as per Reuters.
07:32 (IST) 10 Apr 2025
Trump Tariffs Live Updates: What’s in Trump’s partial tariff pause?
US President Donald Trump on Wednesday abruptly paused part of his tariff assault on global trading partners, dialing back duty rates on goods from many countries for 90 days to allow room to negotiate lower trade barriers, even as he hiked new tariffs on Chinese goods to 125%.
Here are key details of Trump’s latest move:
‘RECIPROCAL’ TARIFFS PAUSED
The net effect of Trump’s move is that many goods from most countries will be subject to a 10% US import tariff for the next 90 days. Trump’s higher reciprocal tariffs imposed on Wednesday for 57 trading partners are paused for 90 days.
These partners, which include the European Union, Japan, South Korea and, will instead revert to a 10% duty rate.
“Baseline” 10% tariff rates that took effect on April 5 for most other countries, including Brazil, Australia, Britain and Colombia, will remain in place for the 90-day period.
CHINA TARIFF RAISED TO 125%
After several tit-for-tat tariff escalations including China’s 84% tariff on US goods announced in Beijing on Wednesday, Trump hit back again with higher duties, raising the total new duties imposed since he took office in January to 125%.
These are in addition to tariffs he had already imposed on many Chinese goods during his first term.
NO CHANGE FOR CANADA, MEXICO
Trump’s tariff announcement last week spared Canada and Mexico, but only because their goods are still subject to 25% fentanyl-related tariffs if they do not comply with the US-Mexico-Canada trade agreement’s rules of origin.
These duties remain in place for the moment, with an indefinite exemption for USMCA-compliant goods.
– Reuters
07:23 (IST) 10 Apr 2025
Trump Tariffs Live Updates: China, European Union discuss strengthening trade cooperation amid US reciprocal tariffs
China and European Union have exchanged views on strengthening their economic and trade cooperation amid US President Donald Trump’s reciprocal tariffs on all its global trading partners, China’s Commerce Ministry said on Thursday.
China’s Commerce Minister Wang Wentao held talks with European trade and economic security commissioner Maros Sefcovic over a video call and mentioned to restart the talks on trade relief and start negotiations on the electric vehicles price commitments, the Chinese commerce ministry said, as per Reuters.
07:10 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Global and US recession still likely despite Trump’s tariff pause, says JPMorgan
JPMorgan has said that it is sticking to its recession call for the global and US market even after President Donald Trump announced a 90-day pause on the reciprocal tariff. The bank still forecasts a 60% chance of recession in global and US market.
In a report authored by JPMorgan economists, it said “Combined with the ongoing policy chaos on trade and domestic fiscal matters, along with the still-large losses in equity markets and hit to confidence, it remains difficult to see the US avoiding recession,” CNN reported.
07:04 (IST) 10 Apr 2025
Trump Tariffs Live Updates: ‘US tariff shock reduced to some extent,’ says South Korea’s finance minister
South Korea’s Finance Minister Choi Sang-mok said that the economic shock which the country faced after US President Donald Trump announced reciprocal tariffs last week has been reduced to some extent amid the pause on tariffs.
President Trump paused the 25% reciprocal tariffs levied on South Korea for 90 days, less than a day after they came into effect.
06:57 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Asian markets rebound after Trump announces 90-day pause on reciprocal tariffs
After US President Donald Trump announced a 90 day pause on the reciprocal tariffs, the Asian markets have responded in green and bounced back after bleeding red for past few days.
The stocks markets in Japan, South Korea and Australia showed improvements in the early hour of trading. Japan’s benchmark Nikkei 225 index shot up 8%, South Korea’s Kospi index was up more than 5% and Australia’s ASX 200 was also up by 5%.
06:25 (IST) 10 Apr 2025
Trump Tariffs Live Updates: President Trump to hold cabinet meeting on Thursday, says report
After announcing a 90 day pause on the sweeping reciprocal tariffs for about 75 countries, US President Donald Trump is reportedly expected to hold a cabinet meeting on Thursday at 11 am ET, according to a White House official, the CNN reported.
During the first cabinet meeting of President Trump which held last month, he had teased about the reciprocal tariffs on a variety of products.
06:20 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Japan’s benchmark Nikkei 225 shoots up in early trading, gaining more than 2,000 points
Japan’s benchmark Nikkei 225 shot up in early Thursday trading, as investors welcomed President Donald Trump ’s decision to back off on most of his tariffs. The Tokyo Stock Exchange’s Nikkei 225 was trading at 34,052.58, up 7.4% within the first 15 minutes of trading.The surge echoes the jump overnight on Wall Street, which had one of its best days in history, with the S&P 500 surging 9.5%.
But the rallies follow earlier losses in global markets when the tariffs were announced.On Wednesday U.S. stocks soared after Trump said he would back off on most of his tariffs temporarily. They had been sinking earlier in the day on worries that Trump’s trade war could drag the global economy into a recession. But then came the posting on social media that investors worldwide had been waiting and wishing for.
“I have authorized a 90 day PAUSE,” Trump said, after recognizing the more than 75 countries that he said have been negotiating on trade and had not retaliated against his latest increases in tariffs.
Treasury Secretary Scott Bessent later told reporters that Trump was pausing his so-called ‘reciprocal’ tariffs on most of the country’s biggest trading partners, but maintaining his 10% tariff on nearly all global imports. China was a huge exception, though, with Trump saying tariffs are going up to 125% against its products.
– AP
06:18 (IST) 10 Apr 2025
Trump Tariffs Live Updates: US, Vietnam agree to have trade deal talks as reciprocal tariffs paused
The United States and Vietnam have agreed to launch trade talks between each other, the Vietnamese government said on Thursday, as the US President Donald Trump announced a 90 day pause on a 46% tariff rate on Vietnam’s exports.
The Vietnamese government said that US and Vietnam will work to remove as many non-tariff barriers as possible. A statement was released by the government after a meeting between Vietnam’s Deputy Prime Minister Ho Duc Phoc and US Trade Representative Jamieson Greer in Washington.
06:13 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Commerce Secretary Howard Lutnick says Trump is expecting to have conversation with China’s Xi Jinping
Commerce Secretary Howard Lutnick informed the media that neither he nor the Treasury Secretary Scott Bessent are engaging with the Chinese officials regarding the tariffs imposed, however, he added that US President Donald Trump is “expecting to have conversations” with Chinese President Xi Jinping.
“The answer really is: it’s a phone call between the two leaders of these giant countries, and that they can work it out together,” Lutnick told CNN.
05:35 (IST) 10 Apr 2025
Trump Tariffs Live Updates: What Trump said on China’s President Xi Jinping and 125% tariff on goods from Beijing?
US President Donald Trump gave a 90 day pause to about 75 countries for the reciprocal tariffs which ranged from 10% to 50% except for China, wherein he raised the tariff penalties on Chinese goods to a whopping 125%. Trump said that China’s President Xi Jinping is “one of the smartest people” and he expects a call from Beijing “anytime soon”.
Trump said, “Xi is a smart guy and we’ll end up making a very good deal. Xi is a man who knows exactly what has to be done, he loves his country.”
Elaborating about a phone call that the White House is expecting from the Chinese premier, the US president said “We will get a phone call at some point and then it’s off to the races.”
05:26 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Treasury Secretary Bessent’s concern over bond market turmoil led to Trump pausing tariff, says report
Treasury Secretary Scott Bessent’s office was concerned over the deteriorating situation in the US government bond market and it reportedly led to US President Donald Trump announcing a pause on reciprocal tariffs for 90 days, a report by CNN has stated.
After Trump’s reciprocal tariff came into effect on Wednesday night, the sell off in the US Treasury market accelerated and Secretary Bessent raised these concerns directly to President Trump in their meeting that preceded the announcement, the report has claimed.
05:18 (IST) 10 Apr 2025
Trump Tariffs Live Updates: How have some international leaders reacted to Trump’s reciprocal tariff pause?
As US President Donald Trump announced a pause on reciprocal tariff for almost all its global trading partners for 90 days, the international reactions have started to come in.
Friedrich Merz, Germany: The incoming German chancellor said that a united European approach to trade had a positive impact and that “Europeans are determined to defend ourselves and this example shows that unity helps most of all.”
Economy Minister Giancarlo Giorgetti, Italy: Italy welcomed the decision by US President Trump to pause the tariffs for 90 days and said the Group of Seven countries spoke about trying to “calm” the situation.
Interim Leader Muhammad Yunus, Bangladesh: Yunus thanked the US president to pause the tariffs for 90 days as Trump had imposed 37% levies on Bangladesh. “We will continue to work with your administration in support of your trade agenda,” Yunus said.
05:10 (IST) 10 Apr 2025
Trump Tariffs Live Updates: What did the US leaders say regarding Trump pausing the reciprocal tariffs?
After US President Donald Trump announced a 90 day pause on reciprocal tariffs, the US leaders have reacted to the development.
Wisconsin Senator Ron Johnson said “I still don’t know what his total strategy is. We know what his goal was, I don’t know what the end game is here.”
California Senator Adam Schiff said he and other Democrats are concerned that members of the Trump administration might have profited off the reciprocal tariffs imposition and pause due to their prior knowledge of Trump’s policy change.
Michigan Senator Elissa Slotkin said she was perplexed about the back and forth decision regarding reciprocal tariff and added “I’m just trying to understand what the hell is happening.”
Senator Rand Paul, a Kentucky Republican who has been critical of the president’s tariff policy, said he thought the market place has spooked them.
04:33 (IST) 10 Apr 2025
Trump Tariffs Live Updates: What announcements did Trump make regarding China’s levies and pausing the reciprocal tariffs?
US President Donald Trump, whose reciprocal tariffs announcement on almost all global trading partners of America went into effect on Wednesday midnight, posted on Truth Social at around 1:18 pm ET on Wednesday that his administration is pausing the penalties for 90 days on most of the countries except China, whose levies have increased to 125% effectively immediately.
Trump stated in the post that “Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE.”
04:25 (IST) 10 Apr 2025
Trump Tariffs Live Updates: What did Trump say regarding the pause of reciprocal tariffs for 90 days?
US President Donald Trump announced a 90 day pause on his reciprocal tariffs on Wednesday and said that the idea to pause the levies came to him in morning, after meeting with Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent.
“I would say this morning, over the last few days, I’ve been thinking about it. I’ve been dealing with Scott, with Howard, with some other people that are very professional. And I think it probably came together early this morning, fairly early this morning, just wrote it up,” Trump said as quoted by CNN.
The Republican president further added saying, “It was written from the heart. And I think it was well written too, but it was written from the heart. It was written as something that I think was very positive for the world and for us, and we don’t want to hurt countries that don’t need to be hurt, and they all want to negotiate.”
00:01 (IST) 10 Apr 2025
Trump Tariffs Live Updates: Trump tariff announcement drives stocks sharply higher
Major stock indexes shot higher on Wednesday, with the Nasdaq last up about 10%, after US President Donald Trump said he had authorized a 90-day pause on many of his reciprocal and 10% tariffs, effective immediately, even as he raised them on China.
The US dollar – which had been lower earlier in the day – strengthened against the yen and other currencies after Trump’s announcement, while Treasury yields pared gains after an auction of 10-year Treasury notes saw strong demand.
Trump’s unveiling of sweeping tariffs late last Wednesday had rattled markets, with stocks selling off sharply in the days following the announcement.
“This was definitely a surprise, considering that the administration consistently said they would not back off the tariffs and that they were non-negotiable,” said Steve Sosnick, chief market strategist at Interactive Brokers in Greenwich, Connecticut.
The US stock market rallied sharply on Wednesday (April 9), reversing earlier jitters driven by President Donald Trump’s escalating trade war. As of midnight IST, the Dow Jones was up 2,728.97 points, or 7.25%, at 40,374.56. The Nasdaq Composite soared 1,638.06 points, or 10.73%, to 16,905.97, while the S&P 500 climbed 412.93 points, or 8.29%, to 5,395.20. The rally came after Trump announced 90-day tariff pause for all countries except for China. Huge swings have become routine for financial markets worldwide recently, not just day to day but hour to hour, as investors struggle to game out what Trump’s trade war will do to the economy.
23:11 (IST) 9 Apr 2025
Trump Tariffs Live Updates: Trump announces 90-day pause on tariffs amid global pushback
Amid global pushback, US President Donald Trump has announced a 90-day pause on tariffs. However, China has been excluded from the pause and instead the tariff rate has been increased to 125%
21:51 (IST) 9 Apr 2025
Trump Tariffs Live Updates: ‘Travel with caution’: China issues risk alert to citizens visiting US
China’s Ministry of Culture and Tourism has issued a travel advisory urging Chinese citizens to exercise heightened caution while visiting the United States, citing a “deterioration” in bilateral trade relations and concerns over the US “domestic security situation.”
The advisory, released Wednesday, highlights rising tensions following President Donald Trump’s sweeping 104% tariff hike on Chinese imports, which came into effect earlier this week. In retaliation, Beijing imposed 84% tariffs on US goods, further straining economic ties between the two global powers.
The ministry did not specify particular threats but linked the warning directly to the broader deterioration in US-China relations, urging tourists to “stay alert, avoid conflict-prone areas, and be aware of their surroundings at all times.”
21:07 (IST) 9 Apr 2025
Trump Tariffs Live Updates: China adds six US firms to its unreliable entity list
China escalated its response to the spiraling US-China trade war on Wednesday with Commerce Ministry announcing that it had added 12 American firms to its export control list—barring them from acquiring dual-use technologies—and placed another six, mostly tied to arms sales to Taiwan, on its “unreliable entities” list. The designation bans those companies from participating in any import-export or investment activity linked to China.
“In recent years, the six companies, including Shield AI and Sierra Nevada Corporation, have… seriously jeopardised China’s national sovereignty, security, and development interests,” the ministry stated. Both companies have contracts with the US Department of Defense and NASA, with operations focused on military drones and aircraft surveillance systems.
While many of the targeted firms have little or no direct exposure to the Chinese market, previous actions—like the sanctioning of drone-maker Skydio—have shown that supply chains can be swiftly disrupted, particularly when key components or raw materials are involved.
Despite the tit-for-tat sanctions, Beijing took care to temper the messaging for broader foreign investors. The commerce ministry clarified that the “unreliable entities” list affects only “a very small number” of companies and stressed that law-abiding foreign businesses “have nothing to worry about.”
20:25 (IST) 9 Apr 2025
Trump Tariffs Live Updates: Trump tells everyone to “BE COOL!”
President Donald Trump struck an oddly upbeat tone Wednesday morning, just hours after imposing the highest tariffs in over a century, even as markets plunged and economists warned of a looming global recession.
In a post on Truth Social, Trump wrote:
“BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!”
The reassuring words come amid economic turbulence sparked by the 104% tariff on all Chinese goods, which took effect at midnight ET. The move has rocked global financial markets, prompting a sell-off in stocks and US government bonds, and raising fears of both stagflation and recession.
18:26 (IST) 9 Apr 2025
Trump Tariffs Live Updates: ‘Great time to move companies to US,’ says Trump as tariff war escalates
President Donald Trump on Wednesday urged global companies to relocate operations to the United States, calling it a “GREAT time” to move in, just minutes after China retaliated with an 84% tariff on American goods.
In a post on his Truth Social platform, Trump said firms shifting into the US would enjoy “ZERO TARIFFS,” near-instant energy approvals, and no red tape on environmental clearances.
18:20 (IST) 9 Apr 2025
Trump Tariffs Live Updates: China files new WTO complaint against further tariff measures
China has lodged a formal complaint with the World Trade Organization over the United States’ latest round of tariff increases, the Chinese Mission to the WTO said on Wednesday.
“China filed a WTO complaint against United States’ further 50% additional tariff measures on Chinese products,” the statement noted, referring to the newest duties announced under President Donald Trump’s escalating trade war strategy.
17:14 (IST) 9 Apr 2025
Trump Tariffs Live Updates: Markets slide as China hits back
Stock markets tumbled sharply on Wednesday after China announced retaliatory tariffs of 84% on US imports, deepening the global trade standoff.
The FTSE 100 plunged 3.4%, while the pan-European Stoxx 600 fell 4.2%, reflecting widespread investor anxiety. Germany’s DAX and France’s CAC 40 also both dropped 3.4%, as fears of an all-out US-China trade war rattled financial markets across the globe.
16:52 (IST) 9 Apr 2025
Trump Tariffs Live Updates: China announces 84% tariffs on US in retaliation
China has announced new tariffs of 84% on the US, in a response to US president Donald Trump’s trade war that will raise fears of further escalation.
The Chinese ministry of finance said it will impose 84% tariffs on US goods from Thursday, April 10, up from the 34% previously announced, according to Reuters.
15:32 (IST) 9 Apr 2025
Trump Tariffs Live Updates: ‘Arrogant and bullying behaviour’ says China as 104% tariffs come into effect
China’s foreign ministry has condemned the US for its “arrogant and bullying behaviour” after President Donald Trump’s 104% tariffs on Chinese imports came into effect.
At a regular media briefing, ministry spokesperson Lin Jian accused Washington of imposing duties “indiscriminately” and said the US should engage in dialogue with “equality, respect and mutual benefit” if it genuinely seeks resolution.
Trump’s sweeping “reciprocal” tariffs took effect on Wednesday, targeting dozens of countries and escalating his global trade war — with financial markets reacting sharply to the deepening tensions.
13:39 (IST) 9 Apr 2025
Trump Tariffs Live Updates: Why Asian markets are betting on Japan’s move over China’s playbook
Countries are responding differently to US President Donald Trump’s retaliatory tariffs.
While China shot back with counter tariffs on the US, Japan is taking the negotiation route.
The long-term US ally is sending a team to negotiate on trade with US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer.
The belief is that the Japanese could crack the negotiations and get Washington DC to pipe down on the tariffs imposed on Tokyo, in turn allowing Trump to claim victory.
Read the full story here
13:05 (IST) 9 Apr 2025
Trump Tariffs Live Updates: Are more tariffs coming?
In response to US President Donald Trump’s tariffs, China said it will levy 34% tariff on all US goods from Thursday.
Trump criticised Beijing’s move and announced 104% tariffs on China further ramping up the trade war hostilities.
While China levied tariffs on US, other countries are evaluating their own responses to Trump’s levies.
During a speech Tuesday night, Trump said that the US will be announcing a major tariff on pharmaceuticals, emphasising that it would bring production of medication back to the US. (AP)
12:46 (IST) 9 Apr 2025
Trump Tariffs Live Updates: What tariffs go into effect on Wednesday?
US President Donald Trump announced his latest and most sweeping round of tariffs on April 2, which he dubbed “Liberation Day.”
Under his “reciprocal” trade strategy, nearly all US trading partners will face a minimum 10% tariff.
The 10% baseline tariff took effect on Saturday, with higher tariffs starting midnight Wednesday unless reversed.
Higher rates apply to countries that run trade surpluses with the US, with tariffs reaching up to 50%.
A 50% tariff will be applied to small economies like Lesotho.
Other countries affected:
– Madagascar: 47%
– Vietnam: 46%
– Taiwan: 32%
– South Korea: 25%
– Japan: 24%
– European Union: 20%
China now faces a 34% tariff, in addition to an earlier 20%, totaling 54%.
Trump threatened an additional 50% tariff on China, potentially bringing the total to 104%.
Economists warn of higher consumer prices due to the ripple effects of these tariffs.
White House Press Secretary Karoline Leavitt confirmed there are no plans to delay the new tariffs.
12:14 (IST) 9 Apr 2025
Trump Tariffs Live Updates: Indian markets decline in early trade tracking weak Asian peers
Benchmark equity indices slumped in early trade on Wednesday after a day’s breather in line with losses in Asian markets amid escalating trade tensions as domestic investors eye the Reserve Bank’s monetary policy decision which was announced earlier.
The 30-share BSE benchmark Sensex dropped 554.02 points to 73,673.06 in early trade. The NSE Nifty declined 178.85 points to 22,357. (PTI)
12:11 (IST) 9 Apr 2025
Trump Tariffs Live Updates: China planning to hold high level meeting in response to Trump tariffs
After US President Donald Trump announced sweeping tariffs on all its global trading partners, Chin said that it would be retaliating with countermeasures and hence Trump declared additional tariffs and a whopping 104% tariff will now be levied on Chinese goods.
According to a report by Reuters, China’s top leadership is poised to hold a high level meeting to discuss measures to boost the economy and stabilise the capital markets as trade war with US escalated.
12:05 (IST) 9 Apr 2025
Trump Tariffs Live Updates: What are the Trump tariffs that go into effect on Wednesday?
US President Donald Trump announced his most sweeping round of tariffs on April 2, which he dubbed “Liberation Day,” as part of his “reciprocal” trade plan. In a fiery speech claiming that other countries had “ripped off” the US for years, Trump declared that the US would now tax nearly all of America’s trading partners at a minimum of 10% and impose steeper rates for countries that he says run trade surpluses with the US.
The 10% baseline already went into effect Saturday. And when the clock strikes midnight Wednesday, Trump’s higher import tax rates on dozens of countries and territories will take hold — that is, unless anything changes in the eleventh hour.
The steeper levies run as high as 50% — with that biggest rate landing on small economies that trade little with the US, including the African kingdom of Lesotho. Some other rates include a tax of 47% on imports from Madagascar, 46% on Vietnam, 32% on Taiwan, 25% on South Korea, 24% on Japan and 20% on the European Union.
– AP
11:39 (IST) 9 Apr 2025
Trump Tariffs Live Updates: Trump threatens to impose ‘major pharmaceutical tariffs’ as Indian pharma stocks decline
US President Donald Trump threatened to impose “major pharmaceuticals tariff” soon as pharma stocks in India declined 1.7% on Wednesday, US accounts for a third of India’s overall pharma exports.
Trump warned that pharmaceuticals tariff could be announced on Friday, as he had earlier exempted the pharma industry from the sweeping tariffs which came into effect on Wednesday.
Sun Pharma and Cipla, which are considered the heavyweights in the industry, fell by 1.69% and 1.87%, respectively. India’s pharma export to the US comprises of generics, or cheaper versions of popular drugs.
