Trump Tariffs Highlights: As the trade war escalates, China retaliates by raising tariffs on US goods to 125%, up from 84%, following President Trump’s hike of US duties on Chinese imports to 145%.
Meanwhile, Tesla has stopped taking orders for its Model S and Model X on its Chinese website, a report by MKTNews said on Friday. The advisory reportedly states that the two models that are sold in China are imported vehicles.
Meanwhile Wall Street stocks fell sharply on Thursday amid growing concerns over Trump‘s ongoing trade battles. All three main US stock indexes suffered deep losses, losing most of the gains they made a day before. While on one hand S&P was down 3.5% on Thursday, Dow Jones Industrial Average also took a dive by 2.5%. Nasdaq too was down 4.3%.
Although US has paused 26% tariff on India till July, the major tariffs on goods from China, Mexico, and Canada are still in effect. These countries supply a large share of what the US imports. Due to this, people, investors, and the US Federal Reserve are dealing with another three months of uncertainty as the trade situation remains unsettled.
This ongoing uncertainty is of course hurting the confidence in the market. Fed officials are already worried that people and businesses are cutting back on spending and investment, as per CNN. This week, many policymakers have expressed that they still believe the tariffs are harming economic growth and may lead to higher inflation. That also puts the Federal Reserve in a tough spot when it comes to setting interest rates and other monetary policies.
Commenting on the US economy, White House press secretary Karoline Leavitt said, “it’s the policy of this White House… to put America first and bring back jobs” from other countries, reported BBC. She explained that the US will “no longer allow China to dump cheap foreign products” into the country, while blocking American-made goods from entering Chinese markets. “America cannot exist if we continue to enrich and embolden China,” she added. Leavitt also said there is “great reason to be optimistic about America’s economy,” and that companies would be “best served” by doing business within the United States.
What did Trump say about the falling market?
Donald Trump on Thursday said that there will “always be transition problems” and “difficulty” as markets kept falling because of ongoing uncertainty around his global tariff policies. His comments came just hours after the White House said tariffs on some Chinese products would rise to 145%, due to an extra 20% tax already placed on items related to the drug fentanyl. Even with these high tariffs, Trump said he still hoped to make a deal with China. “I think we’ll work something out that’s good for both countries. I’m looking forward to it,” he said.
Donald Trump Tariff Highlights – Know all about 90-day tariff pause, China’s next course of action here:
Trump Tariff Pause Live Updates: China files another complaint against US with WTO
China has filed a new complaint with the World Trade Organisation (WTO), accusing the US of unfair behavior after President Trump raised tariffs by 50%. China’s commerce ministry had earlier criticised the move, calling it a serious mistake that shows the US is acting alone and using pressure tactics. A government spokesperson said China will strongly defend its rights under WTO rules and will continue to support fair global trade and economic cooperation.
Trump Tariff Pause Live Updates: Gold prices go up more than 1%
Gold prices went up by more than 1% on Thursday as investors rushed to buy the metal, which is seen as a safe option during uncertain times. This happened after the U.S. increased tariffs on China, the biggest buyer of metals, making the trade war even worse—even though there’s a 90-day pause on tariffs for other countries. As of 0300 GMT, spot gold was trading at $3,119.18 per ounce, up 1.2%. U.S. gold futures rose even more, climbing 1.8% to $3,135.50. Gold also had its best day since October 2023 in the previous session. President Donald Trump announced on Wednesday that tariffs on Chinese goods would go up from 104% to 125%.
US President Donald Trump unexpectedly announced a three-month pause on his planned tariffs, backing down after days of intense pushback. The decision came as criticism mounted from Republicans, business leaders, and even some of his allies. Despite his earlier stance that he wouldn’t change his policies, Trump appeared to shift course quickly. “They were getting a little bit yippy, a little afraid,” Trump had said. The reversal surprised many, especially since it happened while his trade representative was still publicly defending the tariffs in Congress.
One of the key reasons behind the pause was rising concern inside the Treasury Department, according to CNN. A sharp drop in US government bond markets — typically seen as a safe place for investors — signaled deeper economic trouble than expected. Treasury Secretary Scott Bessent and other officials warned that the president’s trade strategy might lead to serious financial consequences. This economic warning, combined with political pressure, ultimately led Trump to delay the tariffs he had strongly supported just days earlier.
Trump Tariff Pause Live Updates: Australia rejects China’s proposal to fight Trump’s tariffs together
Australia has rejected China’s proposal to work together against US tariffs. Instead, the country said it will focus on spreading its trade across more partners to reduce its dependency on China, which is currently its biggest trading partner. Deputy Prime Minister Richard Marles said Australia will not side with China in global trade disputes. He explained that the government is focused on protecting its own national interests by expanding trade with other regions, including the European Union, Indonesia, India, the UK, and the Middle East, a Reuters report said. In an opinion column in The Age newspaper, China’s ambassador to Australia had earlier suggested that both countries should work together to support the global trading system.
China’s Shenzhen E-Commerce Association, which represents over 3,000 Amazon sellers, has said that the US tariffs are making it extremely difficult for them to stay in the American market. The group calls the tariffs an unprecedented blow, warning they could cause many small and mid-sized businesses to shut down and push China’s unemployment rate higher, a Reuters report saic. While some sellers are still shipping goods to the US, others are now looking for new markets to survive.
Trump Tariff Pause Live Updates: JP Morgan still believes recession is going to be hard to avoid
JPMorgan still believes there is a 60% chance that the US and the global economy will fall into recession, even though Donald Trump has paused tariffs on most countries for 90 days. The bank says that the ongoing confusion around tariff, trade, and government policies, along with big stock market losses and low confidence, makes recession hard to avoid, reported CNN.
Trump Tariff Pause Live Updates: Stocks in China and Hong Kong rise
Stock markets in China and Hong Kong went up on Thursday morning. Investors felt hopeful because they expected government support and more buying by state-owned companies, even though U.S. President Donald Trump raised tariffs on Chinese goods again. China’s main stock index, the CSI300, rose by 1.7%, and the Shanghai Composite went up by 1.3%. In Hong Kong, the Hang Seng index climbed 2.7%.
Trump announced he would temporarily lower new tariffs on many countries, but at the same time, he increased tariffs on Chinese imports to 125%, making the trade fight between the U.S. and China even worse. In response, China raised tariffs on American goods to 84% and also placed restrictions on 18 U.S. companies, most of them connected to defense.
Trump Tariff Pause Live Updates: As Trump pauses tariffs, what’s next? Find out here in our live coverage
US President Donald Trump has once again put a pause for 90 days on tariffs against almost all countries. Well, except for China. With China’s growing retaliation, US has now hiked their tariff rates to 125%. There are growing concerns amongst the global leaders and markets about the escalating trade war between two of the world’s biggest economies. Stay with us as we bring to you more information, news and full live coverage on Trump’s tariffs.