Trump tariffs announcement highlights: US President says ‘big business not worried’

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• Sat, 05 Apr 2025 06:23 AM

  Trump tariffs announcement highlights: Concerns over inflation, economic instability surface as US stands by its reciprocal tariffs

  The reciprocal tariffs announced by US President Donald Trump, which includes a 10% base tariff on almost all US imports and reciprocal tariffs on sixty countries, saw the US markets plunging with S&P 500 down 6 percent and Dow down 2,231.

  In response to the US duties, China hit back with 34% tariff on US goods starting April 10, adding to the worries of American businesses and traders. While the US maintains that the tariffs will eventually be better for American economy, concerns over inflation and unstable economy as a result of the tariffs surfaced. Several experts believe that the American consumers might have to bear the brunt of the tariffs as it could lead to higher price of imported goods.

  Japanese Prime Minister Shigeru Ishiba referred to tariffs as a “national crisis” as their markets panicked. Vietnam said it was ready to negotiate with the US as it urged to put to the tariffs on hold, following which, President Donald Trump said that Vietnam is willing to eliminate tariffs on US.

• Sat, 05 Apr 2025 05:12 AM

  Trump tariffs announcement LIVE: US President says ‘big businesses not worried’ about his measure

  US President Donald Trump on Friday said that big businesses weren't afraid of his tariff measures as they know they are 'here to stay'.

• Sat, 05 Apr 2025 04:41 AM

  Trump tariffs announcement LIVE: US President says Vietnam willing to cut tariffs to zero in deal

  US President Donald Trump on Friday spoke with To Lam, the General Secretary of the Communist Party of Vietnam, and said that during the conversation, Lam expressed Vietnam's willingness to reduce its tariffs to zero if an agreement could be reached with the United States.

  Sharing a post on the social media platform Truth Social, Trump wrote, "Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the US."

• Sat, 05 Apr 2025 03:59 AM

  Trump tariffs announcement LIVE: US markets plunge with S&P 500 down 6 percent and Dow down 2,231 as China retaliates

  The S&P 500 lost 6 percent after China matched US President Donald Trump’s big raise in tariffs announced earlier this week. The move increased the stakes in a trade war that could end with a recession that hurts everyone.

  The drop closed the worst week for the S&P 500 since March 2020, when the pandemic ripped through the global economy. The Dow Jones Industrial Average plunged 2,231 points, or 5.5%, and the Nasdaq composite tumbled 5.8% to pull more than 20% below its record set in December, Associated Press reported.

• Sat, 05 Apr 2025 02:16 AM

  Trump tariffs announcement LIVE: UN says tariff hikes 'hurt the vulnerable and the poor

  Increased global trade tariffs will hurt the most vulnerable and poor people, the UN's trade and development agency said Friday after US President Donald Trump's measures sparked global alarm.

  The ensuing trade turbulence "hurts the vulnerable and the poor," said UNCTAD Secretary-General Rebeca Grynspan in a statement, AFP repoted.

  "Trade must not become another source of instability. It should serve development and global growth," the statement added

• Sat, 05 Apr 2025 12:26 AM

  Trump tariffs announcement LIVE: Dow drops 2,000 as market plunge deepens after China retaliates

  Dow dropped by 2,000 points as the market plunged deeper after China retaliated against the tariffs announced by US President Donald Trump.

• Fri, 04 Apr 2025 11:15 PM

  Trump tariffs announcement LIVE: Ukraine unbothered about the US tariffs

  Ukraine President Zelensky isn't bothered about the new tariff measures announced by US President Donald Trump. He said that the tariffs weren't ‘a problem’ for Ukraine due to ‘small level of trade’ between both the countries, Reuters reported.

• Fri, 04 Apr 2025 11:02 PM

  Trump says Vietnam willing to eliminate tariffs on US goods

  President Donald Trump said that Vietnamese leader To Lam is willing to eliminate tariffs to avoid punishing new US duties imposed on the Southeast Asian nation’s imports, Bloomberg reported.

• Fri, 04 Apr 2025 09:53 PM

  Trump's tariffs trigger debate on possible breach of NATO treaty

  A barrage of tariffs unleashed by US President Donald Trump has sparked a discussion among NATO members on whether the move breaches the military alliance’s treaty, Bloomberg reported.

  “I think he got the point,” Eide told Norwegian broadcaster NRK. “And quite a few Europeans agreed.”

• Fri, 04 Apr 2025 09:10 PM

  US tariffs likely to cause higher inflation: Federal Reserve Chair

  The tariffs introduced by President Donald Trump have increased the risk of higher unemployment and will likely cause higher inflation and slower growth, Federal Reserve Chair Jerome Powell said Friday.

  "It is now becoming clear that the tariff increases will be significantly larger than expected," Powell told an event in Virginia in prepared remarks.

• Fri, 04 Apr 2025 08:22 PM

  Trump tariff live: Vietnam seeks 3-month tariff delay from the US

  Vietnam has asked the Trump administration to put on hold its planned 46% tariff on imported Vietnamese products for up to three months to enable further negotiations to take place, Bloomberg reported.

• Fri, 04 Apr 2025 08:17 PM

  US lawmaker backs Trump's new tariffs

  Congressman John Moolenaar, who chairs the House Select Committee on China, released a statement endorsing President Trump's declaration of new tariffs aimed at Chinese imports, based on a report from the Select Committee on the CCP (SCCCP).

  "For far too long, the Chinese Communist Party has exploited America's generosity, stolen our intellectual property, and undermined our workers," said Chairman Moolenaar, as quoted by SCCCP in a report.

• Fri, 04 Apr 2025 07:19 PM

  Trump tariff live: US President says ‘his economic policies will never change’

  US President Donald Trump said his economic policies “will never change,” as his sweeping tariffs continued to wreak havoc on the global economy, Bloomberg reported.

  The comments come one day after the president indicated he would be willing to reduce his duties if other nations offered him something “phenomenal.”

• Fri, 04 Apr 2025 05:42 PM

  Trump tariffs announcement LIVE: Oil markets sink 8% as trade war escalates with China’s tariffs

  Trump tariffs announcement LIVE: Oil prices sank 8% on Friday, nearing their lowest levels since the 2021 COVID-19 pandemic, amid rising global trade tensions. The sharp drop followed China’s decision to impose 34% tariffs on all US goods starting April 10, a retaliatory move in response to President Donald Trump’s recent wave of steep import levies. With countries worldwide preparing to respond to Trump's historic tariff hikes, global financial markets have taken a hit.

• Fri, 04 Apr 2025 04:07 PM

  Trump tariffs announcement LIVE: China hits back with 34% tariff on US goods starting April 10

  Trump tariffs announcement LIVE: China is set to impose a 34% tariff on all US imports beginning April 10, Xinhua News Agency reported.

  The decision follows US President Donald Trump’s recent announcement of matching 34% tariffs on Chinese goods, escalating the ongoing trade tensions.

• Fri, 04 Apr 2025 03:30 PM

  Trump tariffs announcement LIVE: Vietnam markets fall again amid tariff turmoil

  Trump tariffs announcement LIVE: Vietnam’s stock market dropped to its lowest point since mid-November, as continued US tariffs extended the market’s decline for a second straight day.

  The VN Index fell as much as 5.8% during trading hours, before settling 1.6% lower by market close. Major companies like PetroVietnam Gas and Masan Group contributed significantly to the benchmark's drop.

  On Thursday, the index hit its 7% daily loss limit following the US imposing one of the steepest tariff rates in the region—46% on Vietnam.

  “Stock prices are under pressures of both margin call activities by local brokers and panic sentiment of retail investors,” said Nguyen Anh Duc, head of institutional brokerage and investment advisory at SBB Securities Corp. “They are facing a huge loss in a short window, and many are running away just to avoid further losses.”

• Fri, 04 Apr 2025 03:02 PM

  Trump tariffs announcement LIVE: Volkswagen to hike prices after Donald Trump's 25% auto tariffs

  Trump tariffs announcement LIVE: Volkswagen AG is planning to add the new import fees to the sticker prices of its vehicles shipped into the US. This comes after US President Donald Trump announced 25% tariffs on automobile imports into the US, which Volkswagen's cars now come under, according to a Bloomberg report.

• Fri, 04 Apr 2025 01:30 PM

  Trump tariffs announcement LIVE: Spain faces GDP loss from US trade tariffs

  Trump tariffs announcement LIVE: Spain's Economy Minister, Carlos Cuerpo, warned on Friday that the series of tariffs announced by US President Donald Trump could negatively impact Spain's GDP by several tenths of a percentage point, Reuters reported.

  While Spain's direct exposure to the US is lower than other EU countries, Cuerpo noted that slower global trade could have an indirect effect on Spain's economy.

  In response, Spain unveiled a financial aid package worth 14.1 billion euros ($15.55 billion) on Thursday. The package offers loans and direct support to businesses affected by the new US tariffs, making it one of the few major economies to provide such a solution. Spain still expects its GDP to grow by 2.6% this year.

• Fri, 04 Apr 2025 12:07 PM

  Trump tariffs announcement LIVE: Trump claims 'things are going very well' despite worst stock market drop in years due to tariffs

  Trump tariffs announcement LIVE: President Donald Trump provided an optimistic outlook following a sharp stock market decline on Thursday due to his tariff announcement, stating, “I think it’s going very well.”

  He added, “The markets are going to boom, the stock is going to boom, the country is going to boom,” as he left the White House for a flight to one of his Florida golf clubs.

  On Thursday, the Dow Jones Industrial Average plummeted over 1,600 points, leading a global selloff after Trump's announcement of tariffs on a wide range of imports. This sparked a market shock not seen since the COVID-19 pandemic.

  Trump’s tariff plan, revealed on Wednesday, included a minimum 10% tax on imports, with higher rates for goods from countries like China and the European Union.

  Although the market turmoil was significant, Trump shrugged it off, calling it expected. When asked about the stock market’s steepest drop in years, he likened the US economy to a sick patient in need of surgery.

• Fri, 04 Apr 2025 11:18 AM

  Trump tariffs announcement LIVE: Japan PM Ishiba labels tariffs a 'national crisis' as markets panic

  Trump tariffs announcement LIVE: Japanese Prime Minister Shigeru Ishiba referred to U.S. tariffs as a “national crisis” ahead of an unusual meeting with opposition leaders to discuss a unified response, Bloomberg reported.

  This came as stocks fell for the second consecutive day and the worsening economic outlook led to lower bond yields.

  The shockwave from US President Donald Trump’s announcement of a 24% tariff on Japanese imports also prompted Bank of Japan Governor Kazuo Ueda and his deputy to reassure the public as economists lowered their growth forecasts.

  “This is a situation that should be called a national crisis,” Ishiba stated in parliament, adding that the government was evaluating potential countermeasures. “We would like to consider what is most effective, such as retaliatory tariffs or going through the World Trade Organization,” he said.

• Fri, 04 Apr 2025 10:31 AM

  Trump tariffs announcement LIVE: Japanese markets slide amid banking losses and tariff fears

  Trump tariffs announcement LIVE: Japanese stocks plunged on Friday, hitting their lowest levels since last August, as mounting fears of a global recession following U.S. President Donald Trump's sweeping new tariffs rattled investors, Reuters reported.

  By 0420 GMT, the Nikkei had dropped 3.6% to 33,474.56 and was headed for a near 10% weekly decline — its sharpest in five years.

  The broader Topix index slid 4.6% to 2,448.94, eyeing an 11% weekly loss. If these declines persist, both indexes will mark their steepest weekly drops since March 2020.

  The market rout followed Trump’s announcement on Wednesday of the most aggressive U.S. trade barriers in over a century, prompting investors to flee to safe-haven assets like the yen. The strengthening yen further weighed on Japanese stocks, especially exporters.

• Fri, 04 Apr 2025 09:06 AM

  Trump tariffs announcement LIVE: Japan PM calls US tariffs a ‘national crisis’

  Japanese Prime Minister Shigeru Ishiba called the reciprocal tariffs announced by United States President Donald Trump a "national crisis", reported AFP. The levies of 24 percent on Japanese imports "can be called a national crisis and the government is doing its best with all parties," Ishiba said in the Parliament.

• Fri, 04 Apr 2025 08:02 AM

  Trump tariffs announcement LIVE: President Trump says ready to negotiate in exchange for something “phenomenal”

  US President Donald Trump said he would consider easing the reciprocal tariffs he announced if countries offer him something "phenomenal". He also said that the reciprocal tariffs have given the US an edge on the negotiating table.

  “The tariffs give us great power to negotiate...every country has called us,” Trump was quoted as saying by Bloomberg. When asked if he would considering relenting, Trump said it “depends” on what the countries are offering. “If somebody said that we’re going to give you something that’s so phenomenal, as long as they’re giving us something that’s good,” he said.

• Fri, 04 Apr 2025 07:19 AM

  Trump tariffs announcement LIVE: Vietnam requests US puts 46% tariffs on halt and negotiate

  After being hit by 46% reciprocal tariffs by the United States, Vietnam has urged the Trump administration halt the imposition of the order and engage in negotiations, reported Bloomberg. The request was made in a diplomatic note by Vietnam's trade ministry soon after President Donald Trump made the announcement. The ministry has also sought a a phone call between the trade representatives of the two countries as soon as possible.

• Fri, 04 Apr 2025 06:22 AM

  Trump tariffs announcement LIVE: Florida business sues Trump over tariffs on China

  A small retail stationery business in Florida has sued US President Donald Trump over the reciprocal tariffs he imposed on China on April 2, claiming that it would suffer "severe" harm because of it, reported Bloomberg. The Pensacola-based Simplified, who has sued the President, depends on China to import products it sells. Being forced to pay extra to import products from China would inflict “competitive injury in the form of higher costs, competitive disadvantage and lost profits," according to the complainant.

  “He would be empowered to declare a national emergency based on some long-running national problem, then impose tariffs purportedly in the name of that emergency — thus sidestepping the detailed constraints Congress has placed on the tariff authority it has granted,” the complaint said.

• Fri, 04 Apr 2025 04:52 AM

  Trump tariffs announcement LIVE: US President's rosy assesment despite market crash

  US President Donald Trump offered a rosy assessment of the aftermath of his sweeping tariff announcement, even as the stock market dropped sharply on Thursday over the move.

  “The markets are going to boom, the stock is going to boom, the country is going to boom,” the Associated Press quoted Trump as saying when asked about the market.

• Fri, 04 Apr 2025 04:05 AM

  Trump tariffs announcement LIVE: IMF chief says US tariffs a 'significant risk' to global economy

  IMF chief Kristalina Georgieva on Thursday said new US tariffs "clearly represent a significant risk to the global outlook" and urged Washington to work with its trade partners.

  The tariffs, announced by President Donald Trump on Wednesday, "clearly represent a significant risk to the global outlook at a time of sluggish growth," the head of the International Monetary Fund said in a statement, AFP reported.

  "It is important to avoid steps that could further harm the world economy," Georgieva added.

• Fri, 04 Apr 2025 01:05 AM

  Trump tariffs announcement LIVE: $2 trillion wiped out from US stock market after the announcement of the measures

  Roughly $2 trillion was erased from the S&P 500 Index on Thursday amid worries that President Donald Trump’s sweeping new round of tariffs could plunge the economy into a recession, Bloomberg reported.

  The damage was heaviest in companies whose supply chains are most dependent on overseas manufacturing. Apple Inc., which makes the majority of its US-sold devices in China, fell as much as 9.5%. Lululemon Athletica and Nike, among companies with manufacturing ties to Vietnam, were both down more than 12%. Target and Dollar Tree, retailers whose stores are filled with products sourced outside of the US, were trading lower by more than 10%.

• Fri, 04 Apr 2025 12:10 AM

  Trump tariffs announcement LIVE: Italian PM Giorgia Meloni says talks with US should aim to eliminate tariffs

  Italy's prime minister said on Thursday that any talks with the US on tariffs imposed by US President Donald Trump should aim to eliminate the levies.

  "We must open a frank discussion on substance with the Americans with the objective, in my opinion, of removing tariffs, not multiplying them," Giorgia Meloni told public television Rai1, in reference to the EU's eventual response.

• Thu, 03 Apr 2025 10:59 PM

  Canada hits back with 25% tariffs on US auto imports after Trump's move

  In a sharp response to US President Donald Trump's newly imposed 'reciprocal' tariffs, Canada on Thursday announced that it would impose a 25% tariff on some US auto imports. READ MORE

• Thu, 03 Apr 2025 08:45 PM

  French President Macron urges companies to pause US investments

  French President Emmanuel Macron urged companies to pause investments in the US after President Donald Trump announced tariffs on the European Union and other regions.

• Thu, 03 Apr 2025 07:37 PM

  Former finance minister Chidambaram on Trump's tariff and its impact on India

  Congress MP Karti Chidambaram on Thursday said that the US administration's imposition of 26 per cent reciprocal tariffs on India, will definitely have implications for India's exports, and the government needs to analyse how this will affect the country's economic growth.

• Thu, 03 Apr 2025 06:27 PM

  Trump’s tariffs not good news for Scotland: First minister

  New tariffs imposed by President Donald Trump on goods from the UK being sold to America are “not good news”, Scotland’s First Minister said. But John Swinney pledged he would “stand shoulder to shoulder with Scottish industry” amid concerns the new charges could impact businesses.

• Thu, 03 Apr 2025 05:34 PM

  Trump's tariffs may hit Bangladesh, Sri Lanka garment giants

  The Bangladeshi garment industry was shaken after Trump's 37% tariff on the country's exports, endangering an apparel hub already reeling from domestic political upheaval, Reuters reported.

  Suppliers in Bangladesh's garment industry, which counts Gap Inc and Vans parent VF Corp as clients, told Reuters they began seeking government support hours after Trump's lightning bolt.

  Some companies in the impoverished South Asian country are pressing government officials to negotiate further on tariffs with the U.S. to prevent foreign buyers from bolting to save costs.

• Thu, 03 Apr 2025 04:47 PM

  How Germany and France reacted on Trump's reciprocal tariffs

  France and Germany are pushing for a more robust reaction to US President Donald Trump’s tariff measures, advocating for a forceful retaliation that could strengthen the EU’s negotiating position, Bloomberg reported.

• Thu, 03 Apr 2025 04:37 PM

  EU farmers warn against tariff retaliation

  European farmers urged the EU on Thursday to prioritise negotiations over retaliation against US President Donald Trump's tariffs onslaught, warning against a trade war, AFP reported.

  Pan-European farmers' group Copa-Cogeca denounced Washington's slapping of a 20 percent tariff on all EU goods, saying it threatened to disrupt global supply chains and increase prices.

• Thu, 03 Apr 2025 04:22 PM

  US reciprocal tariffs could trim India's GDP by up to 50 bps

  The reciprocal tariff announced by the Trump administration can shave off India's GDP growth rate by up to 50 basis points to 6 per cent, and the country's exports to the US could fall by 2-3 percentage points in the current fiscal year, PTI reported, quoting experts.

• Thu, 03 Apr 2025 03:57 PM

  EU leaves door open for Trump tariff talks

  The EU on Thursday told President Donald Trump the door remained open for trade talks- while readying for a fight should negotiations fail, AFP reported.

  Trump announced a 20 percent tariff for the European Union as part of a sweeping clampdown on imports to the United States that has fanned global trade war fears and sent markets tumbling.

• Thu, 03 Apr 2025 03:32 PM

  Tech, retails stocks plunge following Trump's tariff shock

  The global stock market carnage that followed US President Donald Trump's sweeping new tariffs rippled through early trading in the United States, slamming a wide swath of key industries, including retail and technology firms, Reuters reported.

• Thu, 03 Apr 2025 03:14 PM

  ‘Calm response needed': UK PM tells business chiefs on Trump's reciprocal tariffs

  Prime Minister Sir Keir Starmer told business chiefs that “clearly, there will be an economic impact” from Donald Trump’s tariffs, but the government would respond with “cool and calm heads”.

  Trump has slapped a 10% tariff on US imports of UK goods as he confirmed sweeping import levies on countries across the world, hailing America’s “declaration of economic independence”.

• Thu, 03 Apr 2025 03:00 PM

  Irish leader reacts to Trump's reciprocal tariffs announcement

  On Trump's reciprocal tariffs, Irish deputy premier Simon Harris said there is a need for “maturity” in negotiations between the European Union and the US.

  His assessment came after US President Donald Trump announced that he was imposing a sweeping 20% tariff on imports from the EU, which will significantly impact Ireland.

• Thu, 03 Apr 2025 02:29 PM

  Trump's tariffs a setback for Modi govt?

  The tariffs are a setback for Modi’s government, which had sought to ward off the new levies by rolling out sweeping concessions on issues central to Trump’s agenda, Bloomberg reported. During a visit to Washington by Modi in February, the two nations agreed to work toward a trade pact this year.

  The levies are likely to ratchet up pressure on officials in New Delhi to hash out a trade pact with Washington.

• Thu, 03 Apr 2025 02:04 PM

  Trump's tariffs decision 'fundamentally wrong', says German chancellor

  German Chancellor Olaf Scholz said that the US president's decision to impose sweeping tariffs on countries is "fundamentally wrong".

• Thu, 03 Apr 2025 01:48 PM

  Domestic economic conditions worsening due to Trump tariffs, says Bank of Korea

  Bank of Korea RHEE has said that due to the sweeping reciprocal tariffs imposed by US president Donald Trump, the domestic economic conditions are worsening.

• Thu, 03 Apr 2025 01:34 PM

  Trump tariffs LIVE: US levies to drive up bar bills, cut jobs, says report

  The sweeping tariffs imposed by US president Donald Trump will lead to a surge in costs of alcohol, everything from Negroni cocktails to Scotch whisky, and sales will fall, jobs will be cut, and drink brands will vanish from the US bar menu, a Reuters report said citing industry bodies.

  Trump imposed the latest round of US tariffs on the alcohol sector as well. In addition, he announced a 25 per cent tariff was imposed on beer imports, as well as higher tariffs for EU imports to the US, and the alcohol sector is further hit by the inclusion of empty beer cans in existing aluminium tariffs.

• Thu, 03 Apr 2025 01:29 PM

  Trump tariffs can be 'big burden' to economy, says South Korea acting president

  South Korea's acting president Han on Thursday said that the reciprocal tariffs imposed by US president Donald Trump can be a "big burden" to the economy.

• Thu, 03 Apr 2025 01:13 PM

  Israel to formulate 'necessary steps' in response to US tariffs, says finance minister

  Israeli finance minister Bezalel Smotrich on Thursday said that he was convening ministry officials to formulate a course of action to protect Israel's economy in the wake of the sweeping tariffs imposed by US president Donald Trump.

  Israeli exports to the US will be subject to a 17 per cent tariff.

  Smotrich said he would discuss with ministry officials, after speaking with economic leaders, how to "analyse opportunities and risks and formulate courses of action, both in relation to President Trump and his team and regarding the necessary steps to strengthen Israel's industry".

• Thu, 03 Apr 2025 01:11 PM

  UK PM Keir Starmer warns of inevitable 'impact' of Trump tariffs

  UK prime minister Keir Starmer told business chiefs at his Downing Street office on Thursday that "clearly there would be an economic impact" from the 10 per cent tariff levied on British exports to the US.

  "Last night the president of the United States acted for his country, and that is his mandate. Today, I will act in Britain's interests with mine," said Starmer, adding that trade negotiations would continue with Donald Trump's administration and that "we will fight for the best deal for Britain", an AFP report mentioned.

• Thu, 03 Apr 2025 12:50 PM

  Trump tariffs LIVE: China urges US to 'correct its wrongdoing'

  China's foreign ministry slammed the sweeping tariffs imposed by the US and said that "under the pretext of reciprocal tariffs", America has imposed additional levies on China and other countries.

  It further noted that the Trump tariffs severely violate the rules of the World Trade Organisation and harms the rules-based international trading regime. It urged the "US to correct its wrongdoing".

  It said that in way if equality, the respect and reciprocity should be used to resolve trade and economic disputes with China and other countries via consultation.

• Thu, 03 Apr 2025 12:46 PM

  US tariffs affirm urgency for bilateral trade deal, says South Africa

  South Africa's Presidency on Thursday said that the tariffs announced by US president Donald Trump only affirm the need to negotiate a new bilateral and mutually beneficial trade agreement with the US.

  “Whilst South Africa remains committed to a mutually beneficial trade relationship with the United States, unilaterally imposed and punitive tariffs are a concern and serve as a barrier to trade and shared prosperity,” the Presidency said in a statement Thursday.