Trump tariffs live: China vows to ‘fight to the end’ in US trade war despite facing new 50% levy within hours

WorldBusiness & Finance
8 Apr 2025 • 6:13 PM MYT
The Independent
The Independent

The world’s most free-thinking newspaper

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China has vowed to “fight till the end” in its bitter trade war with the US despite facing a new 50 per cent levy on top of eye-wateringly high existing tariffs within hours.

The Chinese foreign ministry today promised to “take necessary measures” in response to Donald Trump’s tariff threats, as it accused the US of “typical unilateralism and protectionist economic bullying”.

Mr Trump said that Washington will impose an extra 50 per cent levy on top of the existing 54 per cent tariff on Chinese imports if Beijing does not withdraw the 34 per cent tariffs it had imposed on US products last week.

The US president warned on Truth Social: “If China does not withdraw its 34 per cent increase above their already long term trading abuses by tomorrow, 8 April, 2025, the United States will impose additional tariffs on China of 50 per cent, effective 9 April.”

If neither side blinks and Mr Trump sticks to his plans, the total new levies could climb to 104 per cent on Chinese goods imported into the US this year.

Meanwhile, London's FTSE 100 finally rebounded this morning after several days of heavy losses. The index was up more than 1 per cent within the first few minutes of trading.

It follows a more positive session for Asian markets, with some indexes making gains after suffering from steep falls in previous days, despite Mr Trump’s threats to China.

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Key points

  • China vows to 'fight till the end' in trade war with US
  • FTSE 100 rises in first few minutes of trading as optimism returns to financial markets
  • Asian markets recover after days of losses
  • Musk made direct appeals to Trump to reverse new tariffs, Washington Post reports
  • JP Morgan boss says Trump tariffs make US recession more likely

China's stocks rally slightly despite Trump's new tariff threats

11:13

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Tara Cobham

China’s stocks also rallied slightly today, despite Donald Trump’s threat of a new 50 per cent levy on top of eye-wateringly high existing tariffs.

The country’s blue-chip CSI 300 climbed 1.7 per cent, while the Shanghai Composite Index closed up 1.6 per cent, according to Reuters.

EU pleads with China not to escalate trade war

11:08

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Tara Cobham

European commission president Ursula von der Leyen has pleaded with China not to escalate the trade war with the US.

In a call with Chinese Premier Li Qiang, she called for “a negotiated resolution to the current situation, emphasising the need to avoid further escalation”, according to a statement released today.

She also stressed the responsibility that Europe and China have “to support a strong reformed trading system”.

The pair also discussed setting up a mechanism for tracking possible trade diversion.

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Hong Kong's Hang Seng index closes slightly up after sharp drop yesterday

11:05

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Tara Cobham

Hong Kong’s Hang Seng index has closed slightly up following a sharp drop yesterday.

The index closed up 1.51 per cent on Tuesday after closing down more than 13 per cent on Monday in what was its steepest drop since the 1997 financial crisis.

What could be the consequences of Trump's tariffs on China

10:58

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Tara Cobham

If Donald Trump implements his new tariffs on Chinese products, US tariffs on Chinese goods would reach a combined 104 per cent.

The new taxes would be on top of the 20 per cent tariffs announced as punishment for fentanyl trafficking and his separate 34 per cent tariffs announced last week.

Not only could that increase prices for American consumers, it could also give China an incentive to flood other countries with cheaper goods and seek deeper relationships with other trading partners, particularly the European Union.

Higher inflation from Trump's tariffs could delay monetary policy normalisation, ECB's Stournaras says

10:50

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Tara Cobham

ECB's policymaker Yannis Stournaras said today that an expected higher inflation and a global trade war following US president Donald Trump's tariffs could delay normalisation of euro zone's monetary policy.

EU countries 'still stand to negotiate trade with US'

10:48

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Tara Cobham

Ireland's EU commissioner Michael McGrath has said the bloc's countries "still stand ready" to negotiate with the US.

The Commissioner for Justice, Rule of Law and Consumer Protection also said that the EU needed to respond and "create an incentive for the US to get around the table with us".

The leaders of EU countries are due to vote on Tuesday on a package of counter measures responding to US tariffs on steel and aluminium already in effect.

A 20 per cent import tax will be slapped on EU goods on Wednesday as part of a major tariff announcement by US President Donald Trump last week.

The announcement has caused turmoil in the global markets as trading norms built up over decades are disrupted.

Mr McGrath said that the value of EU goods being hit by additional US tariffs is €380billion, generating €80billion in revenue for the US, up from the "normal" value of €7billion.

"Our strong preference is for negotiations with the US, we still stand ready to negotiate," he told Newstalk Breakfast on Tuesday.

"We do wish to negotiate, it is our preference because we recognise that everyone loses when it comes to a trade war and the imposition of tariffs."

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Full story: China vows to fight Trump tariffs to the end with more ‘strong measures’ to come

10:32

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Tara Cobham

China has vowed to “fight to the end” after president Donald Trump threatened Beijing with a further 50 per cent import tariff, escalating a brewing trade war between the world’s largest economies.

Mr Trump had threatened to bring his grand total of tariffs on Chinese imports to over 100 per cent if Beijing went ahead and matched the 34 per cent levy on imports that he announced last week.

The 34 per cent tariff was in addition to the 20 per cent levy imposed earlier in 2025, taking the effective rate to 54 per cent. After Beijing hit back with a 34 per cent tariff on American goods, Mr Trump threatened an additional 50 per cent duty if the Asian giant did not reverse its decision.

My colleague Alisha Rahaman Sarkar reports:

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South Korea trade minister says considering measures to boost US imports

10:19

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Tara Cobham

South Korea's trade minister has said the government has been considering measures to increase imports from the US as he headed to Washington to negotiate over US tariffs.

Minister Cheong In-kyo, who will meet US Trade Representative Jamieson Greer, said today that it was good news ahead of his visit that President Donald Trump said the door was open for talks over tariffs with nations other than China.

"It is difficult to reduce exports, so shouldn't we then increase (US) imports? In that regard, we have been reviewing many different packages of measures to resolve the trade balance problem," Cheong said, before flying to Washington.

He noted that the government had had internal discussions about increasing LNG imports from the United States.

Cheong added he will dispute Washington's calculation of its 25 per cent tariff on South Korea, which he called "problematic" given the two countries' existing free trade pact.

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'Unrecognisable' US starting to resemble emerging market, stock exchange operator chief says

10:00

As financial markets remain volatile, the head of the pan-European stock exchange operator Euronext said the United States was starting to resemble an emerging market.

"Fear exists all over," Stephane Boujnah told France Inter radio, saying the US had become "unrecognisable".

"There is a certain form of mourning, because the United States that we had known for the most part as a dominant nation resembled the values and institutions of Europe and now resembles more an emerging market."

Emerging markets often use targeted tariffs to protect certain industries from foreign competition.

China refuses to bow to what it calls 'blackmail' from US

09:57

China has refused to bow to what it called "blackmail" from the United States as the global trade war ignited by President Donald Trump's sweeping tariffs showed little sign of abating on Tuesday, even as battered stock markets steadied.

Beijing's rebuke came after Trump threatened to ratchet up tariffs on US imports from the world's No. 2 economy to more than 100 per cent on Wednesday in response to China's decision to match the "reciprocal" duties Trump announced last week.

"The US side's threat to escalate tariffs against China is a mistake on top of a mistake, once again exposing the American side's blackmailing nature," China's commerce ministry said.

"If the US insists on having its way, China will fight to the end."

Chinese manufacturers of goods from tableware to flooring are warning about profits, scrambling to plan new overseas plants and haggling with customers over prices as they reel from the tariff news.

Ministers seen arriving for cabinet meeting as UK deals with Trump tariffs fallout

09:54

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Tara Cobham

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Europe eyes counter-measures to Trump's tariffs

09:50

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Tara Cobham

The European Commission has proposed counter-tariffs of 25 per cent on a range of US goods including soybeans, nuts and sausages, though other potential items like bourbon whiskey were left off the list, according to a document seen by Reuters.

Officials said they stood ready to negotiate a "zero for zero" deal with Trump's administration.

The 27-member bloc is struggling with tariffs on autos and metals already in place, and faces a 20 per cent tariff on other products on Wednesday. Trump has also threatened to slap tariffs on EU alcoholic drinks.

Starmer to be grilled by MPs later as markets calm

09:43

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Tara Cobham

Sir Keir Starmer will face MPs later today as market turbulence triggered by Donald Trump's tariffs showed signs of easing.

The prime minister will appear before the Liaison Committee of senior MPs on the last day the Commons sits before it heads into the Easter break.

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ANALYSIS: The markets feel they've reached the bottom...or at least, the initial bottom

09:20

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Business and money editor Karl Matchett

Business and money editor Karl Matchett writes:

There's as expected an amount of back-and-forth over tariffs, retaliations and negotiations right now, but perhaps today is a first indication that the markets feel they've reached the bottom...or at least, the initial bottom.

While markets in London, Paris and Frankfurt are all up, the US futures market also foresees a rise Stateside today when their markets open later in the afternoon. Both the S&P 500 and the Nasdaq are showing a 1.6 per cent rise in pre-trading, with the Dow up slightly higher than that at 1.9.

There's a lot of ground to make up, mind. The S&P 500 has fallen very nearly 14 per cent in 2025 so far - still shy of 'crash' territory, therefore - but even with a rebound today, it doesn't necessarily signal the end of the selling. It'll only take another presidential order, a company issuing poor results in a key industry or an escalation of retaliatory tariffs to resume the risk-off selling of assets.

Healthy secretary says NHS 'not for sale' and warns US tariffs to cause 'real pain' for UK

09:05

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Tara Cobham

The health secretary has said the NHS is not part of trade negotiations with the US and that the tariff regime will cause "real pain" for the British economy.

Wes Streeting was asked on ITV's Good Morning Britain if access to the NHS for American pharmaceuticals could be part of talks on a free trade deal.

He said: "Well, our NHS is not for sale. We've always been clear about that, and it won't surprise you to know that a Labour Government feels that particularly strongly.

"What we do want to do is make sure that, despite being at the best end of President Trump's tariff regime at the moment, we know that's going to still come at real pain for British industry and cost the British economy.

"We want an economic partnership agreement, and we are working as fast as we can to see if we can secure that outcome for our country."

A new health data research service announced this week is a "big opportunity" for the UK but it must ensure that "we as patients are in charge of who can access our data" and that it is "held securely" and "used ethically", Mr Streeting said.

Asked if the NHS is a "red line" in trade talks, he said: "Well, the NHS is not up for sale. It's not part of the trade negotiations. That's not where we are, and the NHS is a publicly-funded public service, free at the point of use."

ANALYSIS: Let's not overlook the smaller companies across the UK too

09:00

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Business and money editor Karl Matchett

Business and money editor Karl Matchett writes:

Most focus will of course be on the FTSE 100, up 1.2 per cent after nearly an hour of trading, but let's not overlook the smaller companies across the UK too.

The FTSE 250 and the AIM are both up by even more, 1.4 and 1.6 per cent respectively.

Smaller businesses tend to be more reactive to share price changes, but that can apply in both directions: they might fall harder, faster, but they can also rise quickly when circumstances change.

The 250 is down 12 per cent year-to-date, for example, compared to just 4.3 per cent for the 100.

If the prime minister follows through on promises to protect some of those smaller businesses across the nation, they - and the index as a whole - are perhaps well-placed for strong recovery.

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Trump says EU must buy US energy for tariff relief

08:49

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Tara Cobham

US President Donald Trump said on Monday that selling energy to the European Union would be a key focus as his administration seeks to eliminate a trade deficit with the bloc.

"The European Union's been very bad to us," Trump told reporters at the White House, accusing European nations of not buying enough US goods.

"They're going to have to buy their energy from us, because they need it and they're going to have to buy it from us. They can buy it, we can knock off $350 billion in one week."

German and French markets also rally on opening

08:41

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Tara Cobham

Both Germany's Dax and France’s Cac 40 indexes have rebounded this morning.

Following days of heavy losses, both the German benchmark and the French benchmark were up more than 1 per cent shortly after trading opened this morning.

JPMorgan CEO Jamie Dimon issues blunt warning about Trump’s tariffs

08:31

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Tara Cobham

The CEO of America’s largest bank warned shareholders on Monday that President Donald Trump’s sweeping tariffs will likely increase domestic inflation and contribute to the probability of a recession but, more direly, could hurt the U.S.’ economic alliances.

Jamie Dimon, the CEO of JPMorgan Chase called the tariffs a “significant and somewhat unprecedented forces” that have caused the company to “remain very cautious” about the financial future of the country.

“We are likely to see inflationary outcomes, not only on imported goods but on domestic prices, as input costs rise and demand increases on domestic products,” Dimon wrote in his annual letter. “Whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth.”

My colleague Ariana Baio reports:

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UK health secretary insists patient data 'not for sale' in US trade negotiations

08:18

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Tara Cobham

The health secretary has said patient data is "not for sale" as part of trade negotiations with the US but anyone who wants to use it for research purposes should pay for access.

"The NHS is not for sale and our patients' data is not for sale," Wes Streeting told BBC Breakfast.

The health data research service announced by the prime minister on Monday is underpinned by the principle that our data should be "publicly owned", he said.

"At the heart of that health beta research service are the values and the principles that underpin our National Health Service, which is our data should be... publicly owned, it belongs to all of us. That data should only be shared for research purposes with our consent.

"And where we are working with scientists to generate the breakthroughs in science and research, the new treatments and new technology, we should get the benefit from that, and not just from being at the front of the queue, but if people want to use our data for research purposes they should have to pay in order to access that data and that research.

"The data must always belong to us. It should always be held securely. It should only be shared with our individual consent. It should always be anonymised."

FTSE 100 rises in first few minutes of trading as optimism returns to financial markets

08:09

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Tara Cobham

London's FTSE 100 has risen in the first few minutes of trading on Tuesday, as a sense of optimism returned to the financial markets after several days of heavy losses.

The index, which tracks the UK's top 100 listed companies, was up more than 1 per cent shortly after markets opened on Tuesday.

All other indexes on the London Stock Exchange were also in the green.

It follows a more positive session for Asian markets, with some indexes making gains after suffering from steep falls in previous days.

FTSE 100 index opens slightly up

08:02

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Tara Cobham

The FTSE 100 index has opened slightly up today.

The UK benchmark opened at around 0.9 per cent after closing down yesterday.

US tariffs create 'another layer of challenge' for UK medicine supply, says health secretary

07:56

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Tara Cobham

US tariffs create "another layer of challenge" for ensuring the supply of medicines, the UK health secretary has said.

Wes Streeting told Sky News: "Until this trade war erupted, we'd already had issues with medicines production and supply internationally.

"We are constantly watching and acting on this situation to try and get medicines into the country, to make sure we've got availability, to show some flexibility in terms of how medicines are dispensed, to deal with shortages.

"But whether it's medicines, whether it's parts for manufacturing, whether it's ... the ability of businesses in this country to turn a profit, this is an extremely turbulent situation."

The steps the US has taken are "unprecedented in terms of global trade", he said.

"As ever in terms of medicines, there's a number of factors at play.

"There have been challenges in terms of manufacturing, challenges in terms of distribution, and if we start to see tariffs kicking in, that's another layer of challenge, but we watch this situation extremely closely."

"We work on a daily basis to make sure that we have the medicine supply this country needs."

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FTSE 100 set to open in few minutes after closing down

07:54

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Tara Cobham

The FTSE 100 is set to open in a few minutes after plummeting as trading began yesterday morning.

The UK benchmark closed down 4.38 per cent yesterday afternoon.

Musk made direct appeals to Trump to reverse new tariffs, Washington Post reports

07:43

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Tara Cobham

Tech-billionaire and Tesla CEO Elon Musk made direct yet unsuccessful appeals to US president Donald Trump to reverse tariffs over the past weekend, Washington Post reported on Monday citing two people familiar with the matter.

This exchange marks the highest profile disagreement between the president and Musk, the report said. It follows Trump's unveiling of a 10 per cent baseline tariff on all imports to the US along with higher duties on dozens of other countries.

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China's state planner 'hears measures to deal with US tariffs' from companies

07:39

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Tara Cobham

China’s state planner has said it has heard “measures and suggestions” to deal with additional US tariffs from companies such as Trina Solar, Didi and Goertek.

How could Donald Trump’s tariffs affect UK households and their finances?

07:32

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Tara Cobham

Foreign Secretary David Lammy has said people across the country are “very concerned” about how the move by the United States to place 10 per cent import taxes on goods would hit their own finances.

Here is a look at how households may find their finances could be affected:

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China vows to 'fight till the end' in trade war with US

07:19

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Tara Cobham

The Chinese foreign ministry has vowed its country will “fight till the end” in a trade war with the US, promising to “take necessary measures” in response to Donald Trump’s tariffs threats.

It also accused the US of “typical unilateralism and protectionist economic bullying”.

Starmer to be grilled on US tariffs today

07:05

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Alisha Rahaman Sarkar

Sir Keir Starmer will be questioned by senior MPs today amid turmoil in global markets caused by US tariffs, which Donald Trump has insisted he will not pause.

The prime minister is expected to hold a cabinet meeting of his most senior ministers in Downing Street this morning, before he heads to parliament, where he will appear before the Liaison Committee of senior parliamentarians.

The US president has imposed a 10 per cent tariff on US imports of British goods, along with the 25% tariff on cars and separate import taxes for steel and aluminium.

Sir Keir warned the tariffs were "not a passing phase" as he visited Jaguar Land Rover's West Midlands plant yesterday, but urged workers at the car maker to remain calm.

"This is a moment for cool heads, nobody wins from a trade war, you know that," he said.

JP Morgan boss says Trump tariffs make US recession more likely

06:42

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Alisha Rahaman Sarkar

JPMorgan Chase chief executive Jamie Dimon has warned that trade wars could have lasting negative consequences, days after he and other US bank bosses met with commerce secretary Howard Lutnick to discuss the administration's sweeping tariffs.

"The economy is facing considerable turbulence," Mr Dimon wrote. "We are likely to see inflationary outcomes ... Whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth."

Mr Dimon's annual letter to shareholders followed a rout last week that wiped trillions of dollars off global stock markets in the wake of president Donald Trump's new tariffs.

Mr Dimon and other bank chiefs reportedly met with Mr Lutnick in Washington on Thursday, a day after the tariffs were announced, to discuss the levies and ask questions.

Trump tariffs list in full: Every country hit and the surprising exemptions

06:32

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Alisha Rahaman Sarkar

The US president shocked global markets as he announced minimum tariffs of at least 10 per cent on almost all exporters to the US, with much higher duties for countries that enjoy the largest trade surpluses.

Southeast Asian nations and some of the world’s weakest economies were hardest hit, compounding the effects of the Trump administration’s cuts to the USAID programme in many of those countries.

ReadThe Independent’s breakdown of the countries most affected by the new levies and those that have been exempt.

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China lets yuan falls to its weakest level since 2023

06:07

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Alisha Rahaman Sarkar

China's yuan fell to its weakest level in more than 18 months after the central bank slightly loosened its grip on the currency in what appears to be an attempt to counteract the blow to exports.

The People’s Bank of China set the fixing at 7.2038 per dollar today, the weakest since September 2023. Weakening the currency is seen as an option for China to make exports cheaper and alleviate some pressure on trade amid the escalating tariff spat between the world's two largest economies.

US president Donald Trump has threatened to increase duties on Chinese imports by another 50 per cent, following their tit-for-tat tariffs on each other's goods last week.

"After the market saw China's firm retaliation on Friday, expectation for China to eventually devalue the currency has jumped and the pressure won't go away easily," said Ju Wang, head of Greater China FX & rates strategy at BNP Paribas.

Hong Kong leader says city will remain a free port

05:49

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Alisha Rahaman Sarkar

Hong Kong leader John Lee said the city will remain an international free port even after Donald Trump's tariffs threaten to hurt the financial hub's economy.

Mr Lee said the city would sign more free trade pacts to diversify its risk amid a global trade war triggered by what he called "ruthless" US tariffs.

"The US no longer adheres to free trade, arbitrarily undermining the internationally established rules of world trade, and its ruthless behaviour damages global and multilateral trade," Mr Lee, who was sanctioned by the US in 2020 for his role in the rights crackdown in Hong Kong, told reporters.

Hong Kong, as an international trade hub, will be affected by US tariffs in the short term but Mr Lee said the city not planning to impose any retaliatory tariffs on the US right now.

Bangladesh asks Trump to delay tariffs

05:00

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Alisha Rahaman Sarkar

Bangladesh’s interim government has urged the US to postpone a 37 per cent tariff on the South Asian country for at least three months, citing efforts to boost imports from the US.

Bangladeshi exporters, especially in the garment sector, are bracing for the impact of the tariff.

The delay would allow Dhaka to “smoothly implement its initiative to substantially increase US exports to Bangladesh,” the office of chief adviser Muhammad Yunus said in a statement.“

We are the first country to take such a pro-active initiative,” Dr Yunus wrote, referring to the February visit of his representative, Khalilur Rahman, to Washington to begin trade discussions.

Bangladesh has signed a multi-year agreement to import liquified natural gas from the US and plans to increase purchases of cotton, wheat, corn and soybeans, according to the statement.

Dr Yunus said Bangladesh maintains the lowest tariffs on US exports in South Asia and plans further cuts. He also listed reforms underway to ease non-tariff barriers:

“We are eliminating certain testing requirements, rationalizing packaging, labelling and certification rules, and simplifying customs procedures and standards.”

Japan first in line to negotiate with Trump administration on trade

04:51

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Alisha Rahaman Sarkar

Japan is expected to be prioritised in the US tariff talks following a phone call between Donald Trump and prime minister Shigeru Ishiba, who urged the US president to rethink his tariff policies.T

alks between the US and a long line of countries seeking to roll back Mr Trump’s "reciprocal" duties are scheduled to kick in on Wednesday.

Treasury secretary Scott Bessent, who will lead the American side of the negotiation, said: “I would expect that Japan is going to get priority” among trading partners for coming forward very quickly

.Mr Trump's decision to impose a 25 per cent levy on auto imports, and another 24 per cent tariff on other Japanese goods, is expected to deal a huge blow to Japan's export-heavy economy."Countries from all over the world are talking to us. Tough but fair parameters are being set," Mr Trump wrote on Truth Social.

The Japanese prime minister said he told Mr Trump in a telephone call that his tariff policies are extremely disappointing and urged him to rethink.

"So we have a great relationship with Japan. We're going to keep it that way," Mr Trump later told reporters.

In pics: Japan's Nikkei recovers partly during morning trade

04:35

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Alisha Rahaman Sarkar

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Taiwan can negotiate with US on tariffs any time, says minister

04:23

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Alisha Rahaman Sarkar

Taiwan can negotiate with the US at any time on the tariffs issue, foreign minister Lin Chia-lung said today, as the island's stock market pared losses, having plummeted the previous day on trade fears.

Major semiconductor producer Taiwan, hit with a 32 per cent duty, was singled out by US president Donald Trump as among the US trading partners with one of the highest trade surpluses with the country.

Mr Lin said that Taiwan is ready to talk about a variety of issues with the US, including investment in and purchases from the country and non-tariff barriers.

"As long as there is a confirmed time and method for negotiations, they can be discussed at any time with the United States," he added.

Taiwan's benchmark stock index, which logged its worst fall ever yesterday, down almost 10 per cent, made up some of those losses this morning.

Asian markets recover

04:16

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Alisha Rahaman Sarkar

Asian markets appear to be making rebounds after a gut-wrenching few days for investors following US president Donald Trump's tariffs on dozens of nations.

Japan’s Nikkei 225 rebounded strongly to rise 6.41 per cent during opening trade after Mr Trump and Japan prime minister Shigeru Ishiba agreed to open trade talks in a phone call yesterday.

In South Korea, the Kospi rose 1.7 per cent and the small-cap Kosdaq climbed 2.35 per cent.China's Shanghai Composite limped up to 0.8 per cent.

Hong Kong’s Hang Seng Index jumped 3 per cent, recovering some of the massive losses it suffered on Monday when it plunged 13.2 per cent.

China says it will 'fight to the end' over US trade war

04:15

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Alisha Rahaman Sarkar

China said it would not bow to "blackmail" from the US as a global trade war kicked off by US president Donald Trump's sweeping tariffs showed little sign of abating even as battered stock markets steadied.

Mr Trump said he would impose an additional 50 per cent duty on US imports from China on Wednesday in response to Beijing's decision to match the 34 per cent duties Mr Trump initially unveiled last week.

"The US side's threat to escalate tariffs against China is a mistake on top of a mistake, once again exposing the American side's blackmailing nature," China's commerce ministry said in a statement.

"If the US insists on having its way, China will fight to the end."

EU warns it is finalising its list of countermeasures tonight

03:57

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Alisha Rahaman Sarkar

The EU has warned it is finalising its list of countermeasures tonight.

EU trade commissioner Maros Sefcovic said: “When it comes to the volume of counter measures, when it comes to steel, aluminium and derivatives, we are finalising the list tonight.”