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The White House has insisted that trade partners ‘need the United States of America’ as global share markets fluctuate after China increased its tariffs on US imports to 125 per cent.
Donald Trump’s press secretary said over 75 countries had approached the US government to negotiate fresh trade deals in the wake of his “Liberation Day” measures.
“They've made it very clear. They need the United States of America. They need our markets. They need our consumer base,” she told a press briefing after China vowed to ‘fight to the end’ in the trade war.
China’s tariff hike, hitting back against Donald Trump's decision to hike duties on Chinese goods to 145 per cent, will come into effect on Saturday.
The US president said America was “doing really well” on its tariff policy on Friday afternoon while Chinese President Xi Jinping made his first public comments on the tariff war, urging the European Union to join China to “oppose unilateral acts of bullying”.
Nigel Farage compares Donald Trump to Liz Truss - ICYMI
Reform UK leader Nigel Farage has compared good friend Donald Trump’s trade war to Liz Truss’s disastrous 49-day stint as prime minister.
“Do you know what, I think Trump did too much too soon, rather like Liz Truss did a couple of years ago,” he told LBC.
“I've never in my life before seen stock markets fall quickly and bond markets fall at the same time.
“As for the slugging it out with China, who's going to win? Right now? I just don't know.”
Athena Stavrou12 April 2025 01:01
Watch: Republican senator admits he doesn’t know Trump’s ‘endgame’
Athena Stavrou11 April 2025 23:59
German finance minister: EU is ready to respond if trade talks with U.S. unsuccessful
The European Union will be ready to respond to tariffs if negotiations with the United States do not work, German Finance Minister Joerg Kukies said on Friday.
"The US side has to be aware that if negotiations do not work, then we will have another discussion around response mechanisms," Kukies said in Warsaw ahead of a meeting of EU finance ministers.
Athena Stavrou11 April 2025 22:55
UK ‘resolved to get best deal’ with US despite American doubts about carve out
The UK is “resolved” to do everything it can to secure the “best deal possible” with the US, Rachel Reeves has said, after a senior Trump adviser poured cold water on the idea of tariff concessions.
Asked if she was losing confidence in the prospect of a US trade deal and pivoting to other partners instead, the Chancellor insisted the UK remained in negotiations with the Americans.
Speaking at Downing Street, she told reporters: “We continue to engage with our counterparts in the United States, and of course we want to secure the best deal possible for British jobs and British industry. And we are absolutely … resolved to do everything we can.
“But, at the same time, we also want to improve trading relations with other countries around the world.”
Athena Stavrou11 April 2025 22:12
Watch: Trump accused of ‘market manipulation’ over 90-day tariff pause
Athena Stavrou11 April 2025 21:47
UK warned not to waste trade concessions to secure Trump deal as hopes of avoiding tariffs fade
Sir Keir Starmer has been warned against sacrificing too much in an attempt to secure a trade deal with Donald Trump, as hopes of avoiding tariffs appear to be fading.
Meanwhile, UK ministers appear to be increasingly downbeat about the prospect of a US-UK deal, with health minister Stephen Kinnock admitting that it might take some time. It comes despite officials previously insisting that talks were at an “advanced stage”.
Athena Stavrou11 April 2025 21:21
Starmer holds calls with regional leaders about tariffs
Sir Keir Starmer has held calls with the first ministers of the devolved administrations and the regional mayors to “update” them on the Government’s approach towards global tariffs, Downing Street has said.
A Number 10 spokesperson said: “The Prime Minister led calls with the first ministers, deputy first minister and regional mayors today to update them on the UK’s Government’s calm, pragmatic and cool-headed approach to recent global tariffs.
“These discussions focused on how across the UK – whether in Belfast, Birkenhead, Blythe or Bute – partnership at all levels will be required to deliver for working people, in the national interest.”
Athena Stavrou11 April 2025 20:43
India and US progress trade talks
India and the US have finalised terms of reference for talks over a bilateral trade agreement.
An Indian trade official said there was a possibility the countries could come to a “win-win” deal in the next 90 days.
"We are far ahead in trade talks with the U.S. compared to other countries ... there are lots of possibilities in 90 days," the official told Reuters.
India is one of America’s largest trading partners in Asia, but Donald Trump had hit the country with what he said was a “discounted” reciprocal tariff of 26 per cent.
Mr Trump had repeatedly accused India of “very very high tariffs” and called it the “tariff king” for its average levy on American goods of 52 per cent.
Rachel Clun11 April 2025 20:16
A senior JPMorgan Asset Management investment strategist said he has held back on some of his public comments on US tariffs due to concerns about the impact his full opinions would have on the Wall Street bank.
In a webinar titled "The 2025 Tariff Shock," Michael Cembalest, chair of market and investment strategy and a Wall Street veteran, said he had not been able to fully express his views on the potential impacts of the tariffs on markets and economies.
"This is the first time I've ever had to do a call where I had to think about the things that I was saying, not just in terms of how they reflect our views on markets and economics," Cembalest said in comments made towards the end of the webinar.
"But I had to think about how they might reflect on the firm and some of its colleagues at a time when people are being held accountable for their views and the things that they say in ways that they probably shouldn't be.
"So I've said most of what I wanted to say on this call but not all of it."
Athena Stavrou11 April 2025 19:50
Trump optimistic on reaching deal with China, White House says
Donald Trump is optimistic about reaching a trade deal with China, White House press secretary Karoline Leavitt said on Friday, amid an escalating trade war between the two economic giants that has battered markets.
"The president has made it very clear he's open to a deal with China," Leavitt told a press briefing. "If China continues to retaliate, it's not good for China," she added.
English (US) ·