President Donald Trump has announced that he’s pausing his high tariffs on a large number of countries for 90 days, even as he raised the levies on China.
In a post on Truth Social, Trump said he was issuing a 90-day pause and “a substantially lowered Reciprocal Tariff during this period, of 10 percent.”
He also said that he’s raising the tariffs on China to 125 percent, “based on the lack of respect that China has shown to the World’s Markets.”
The president said the measures were “effective immediately.”
This comes after Trump’s reciprocal tariffs on some of America’s biggest global trading partners went into effect, and after China responded to a huge 104 percent levy by introducing an 84 percent retaliatory levy on U.S. imports in return.
Earlier, the president urged the public to stay calm.
“BE COOL! Everything is going to work out well,” he wrote in a previous post on Truth Social. “The USA will be bigger and better than ever before!”
Last night, the president delivered a marathon address at the National Republican Congressional Committee’s annual fundraising gala in Washington at which he likewise attempted to reassure GOP lawmakers and donors that his tariff strategy had already left fellow world leaders “kissing my a**” as they seek exemptions.
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Key Points
- ‘Be cool! Everything is going to work out well,’ Trump tells world
- President calls tariff fallout a ‘war with the world’ and gloats over foreign leaders ‘kissing his a**’
- China hikes tariffs on American goods to 84% in retaliation against Trump
- European and Asian stocks plunge as U.S. tariffs on China kick in
- Trump patronises coal miners: ‘You could give them a penthouse on 5th Avenue and they’d be unhappy’
WATCH: Trump administration announces 90-day tariff pause but hits China with 125% levy
19:08
,
Gustaf Kilander
Stock markets soar to near-record gains after Trump announces pause on most of his tariff plan
19:05
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Gustaf Kilander
Mike Bedigan writes:
Stock markets have soared to near-record gains after Donald Trump announced a pause on most of his sweeping global tariffs.
The president announced this decision in a Truth Social post on Wednesday afternoon, saying that a pause of 90 days would be implemented immediately.
Read more:
Trump dramatically changes course on tariffs with 90-day pause while hiking duties on China to 125%
18:59
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Gustaf Kilander
John Bowden writes:
President Donald Trump changed course again on Wednesday and announced a 90-day pause of his so-called “reciprocal” tariffs while hiking other duties on China to 125 percent.
The president’s decision followed several days of sharp losses on the stock market. In a Truth Social post, Trump claimed that his reversal was a result of what White House officials have claimed are dozens of foreign nations reaching out with the intention of re-negotiating trade policy with the United States, rather than implementing tariffs of their own.
Read more:
Bessent: 'This was his strategy all along'
18:57
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Gustaf Kilander
Treasury Sec Scott Bessent to reporters after the major tariffs news that Trump is pausing reciprocal tariffs: “This was his strategy all along”
— Jasmine Wright (@JasJWright) April 9, 2025
The WH 24 hours ago: https://t.co/O61DlAMAhY
Leavitt: 'Many of you in the media clearly missed the art of the deal'
18:55
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Gustaf Kilander
Leavitt: Many of you in the media clearly missed the art of the deal and clearly failed to see what president trump is doing here. pic.twitter.com/X9QAUjMeeM
— Acyn (@Acyn) April 9, 2025
White House says 10 percent baseline tariff to remain in effect during pause
18:49
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Gustaf Kilander
White House Press Secretary Karoline Leavitt has confirmed that the baseline tariff of 10 percent will remain in effect during the 90-day pause, while country-specific tariffs on everyone apart from China will be removed.
Mexico and Canada part of widespread tariff pause
18:44
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Gustaf Kilander
Top U.S. trade partners Mexico and Canada are part of the countries that will be handed the tariffs of 10 percent, Treasury Secretary Scott Bessent has said.
Lutnick: 'The world is ready to work with President Trump to fix global trade'
18:41
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Gustaf Kilander
Scott Bessent and I sat with the President while he wrote one of the most extraordinary Truth posts of his Presidency. The world is ready to work with President Trump to fix global trade, and China has chosen the opposite direction. pic.twitter.com/wNvg8NBnSR
— Howard Lutnick (@howardlutnick) April 9, 2025
Trump says he's raising Tariffs on China to 125 percent
18:24
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Gustaf Kilander
In a Truth Social post on Wednesday, Trump said he was raising the tariffs on China to 125 percent.
Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately.
At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable.
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, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.
Thank you for your attention to this matter!
Donald Trump
Federal judge blocks removal of three Venezuelans
18:00
,
Alex Woodward
A federal judge in Texas has blocked the removals of three Venezuelans that the Trump administration has tried to deport under the Alien Enemies Act.
The order follows a Supreme Court ruling that allows Trump to use the wartime law for removals, but justices essentially argued immigrants must still have a shot at arguing their cases in front of a judge.
Judge Fernando Rodriguez will hold a hearing on Friday.
“The Court finds that maintaining the status quo is required to afford the parties the ability to develop a fuller record for the Court to consider the request for a preliminary injunction and other forms of relief, as presented in the Class Petition for Writ of Habeas Corpus, and to prevent the immediate and irreparable injury that may occur with the immediate removal of any Venezuelan alien subject to the Proclamation,” he wrote in Wednesday’s order.
New York judge blocks deportations without hearings
17:45
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Alex Woodward
A federal judge in New York has blocked the deportation of any alleged Venezuelan gang member detained in the Southern District of New York without first receiving notice and an opportunity for a hearing, as per the Supreme Court’s ruling.
The decision from District Judge Alvin Hellerstein follows a lawsuit from two plaintiffs who were pulled off planes to El Salvador and transferred back to New York from Texas, where they were initially detained.
The Republican plan to silence millions of voters
17:30
,
Joe Sommerlad
Voting rights advocates are sounding the alarm after Trump and House Republicans roll out sweeping changes to how elections are run, Alex Woodward reports.
IRS chief resigns after Trump administration strikes deal to share undocumented taxpayer data
17:10
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Joe Sommerlad
The acting chief of the Internal Revenue Service (IRS) is resigning from the role after Donald Trump’s administration struck up a deal for the agency to share undocumented immigrants’ taxpayer data with the Department of Homeland Security.
A deal from Treasury Secretary Scott Bessent allows Homeland Security Secretary Kristi Noem to collect confidential IRS data for immigration enforcement as part of Trump’s deportation blitz.
The administration filed a redacted version of the agreement in court filings but Melanie Krause, who is the third acting IRS commissioner under Trump, reportedly had only learned of the deal by switching on Fox News.
Jamie Dimon tells Fox that recession is ‘likely’ and he expects defaults amid trade war
16:50
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Joe Sommerlad
Here’s Justin Baragona with more on the JPMorgan boss’s pessimistic Fox Business interview with Maria Bartiromo earlier.
‘We got our a***s kicked’: Steve Bannon shreds Elon Musk after Wisconsin loss
16:35
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Joe Sommerlad
Trump’s former senior advisor has thrown another jab at Musk, this time over the Republicans getting their “a***s kicked” in the Wisconsin Supreme Court election.
The GOP mega-donor poured more than $20 million into conservative candidate Brad Schimel’s campaign coffers, only for him to be thwarted by liberal Susan Crawford on April 1.
This means the liberals retained ideological control of the state’s High Court with a 4-3 majority.
The race was considered the first big test of the Trump administration and was seen as a referendum on the president.
Speaking to conservative British news channel GB News a week after the election, Bannon candidly said: “People should know we got our a***s kicked. It was a big defeat.”
James Liddell has more.
Exclusive: Mar-a-Lago to get $1.8 million in ‘security enhancements’ as DOGE takes a chainsaw to government spending
16:20
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Joe Sommerlad
The taxpayer-funded upgrades to the president’s Florida home come while spending on education and public health is gutted and entire federal agencies are eliminated by Trump and “First Buddy” Elon Musk.
Here’s Justin Rohrlich’s report.
Trump admin refuses to engage with reporters who include their pronouns in email signatures
16:00
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Joe Sommerlad
Journalists who include their preferred pronouns in email signatures are less likely to get a response from the White House or other members of the Trump administration when they reach out for comment.
Following the president’s crackdown on transgender rights and gender ideology in the federal government, administration officials have seemingly taken steps to suppress reporters from using terminology that acknowledges the existence of non-binary or trans people.
That includes refusing to respond to reporters’ emails when they include preferred pronouns in their signature such as “she/her” or “he/him” or “they/them.”
Ariana Baio has more.
Dave Chappelle’s scathing take on Trump’s policies goes viral as trade war escalates
15:45
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Joe Sommerlad
As the world reels from the impact of the president’s reciprocal tariffs, a video mocking his plan by comedian Dave Chappelle has resurfaced from eight years ago.
Trump sent stock markets plummeting when he announced the stiff levies, with even his close advisor Elon Musk openly questioning the policy.
But the world’s richest man is by far the first to question the logic of Trump going to economic war with the world.
“High people ideas,” is how Trump’s policies are described in a viral clip of Chappelle from 2017, which is being shared online after the White House broke decades of international trade convention.
“Like, he doesn’t think these things through before he tells us. He just tells us what he’s thinking as soon as it occurs to him,” Chappelle says in the clip.
Alex Croft has more.
‘Why are we doing this?’ Maria Baritromo asks Scott Bessent
15:30
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Joe Sommerlad
Why indeed.
The Treasury Secretary certainly cannot offer a coherent explanation here.
Bartiromo to Bessent: "Business leaders are saying to me, 'why are we doing this?' Everyone was very excited about President Trump's agenda -- deregulation, tapping into energy, tax cuts -- and now, boom, with these tariffs everything has changed. Why are we doing this?" pic.twitter.com/BnmWElMSv8
— Aaron Rupar (@atrupar) April 9, 2025
JPMorgan CEO Jamie Dimon was also on her show this morning, incidentally, and said that America slamming into recession is now “a likely outcome” of Trump’s actions, a prospect he looks oddly cheerful about.
Jamie Dimon says recession is now 'a likely outcome' | https://t.co/63wUFk7xNi @MorningsMaria @FoxBusiness
— Maria Bartiromo (@MariaBartiromo) April 9, 2025
Meanwhile, one of Bessent’s predecessors, Larry Summers, has warned that the advent of a recession could mean the loss of 2 million American jobs.
Here’s Mike Bedigan on that one.
Kristi Noem roasted for her gun handling skills in ICE photo-op
15:15
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Joe Sommerlad
Trump’s Homeland Security Secretary is being blasted online for posing with a rifle pointing dangerously close to an officer’s face in a new social media video in which she once again attempts to look tough in uniform.
Kelly Rissman has the fallout.
China mocks Trump’s tariffs with AI video of U.S. sweatshop workers: ‘Make America Great Again’
15:01
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Joe Sommerlad
An AI-generated video mocking downcast American workers in a post-tariffs world has been circulating on Chinese and U.S. social media.
The video shows overweight employees in a textiles factory, appearing exhausted and depressed as they stitch clothing on sewing machines.
Depicting the type of clothing manufacturing jobs that have been outsourced overseas in the past decades, the 32-second clip paints a dystopian picture of what the U.S. working world might look like as a result of Trump’s sweeping tariffs.
Alex Croft has more.
‘Be cool! Everything is going to work out well,’ Trump tells world
14:45
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Joe Sommerlad
The president’s message appears to be “don’t worry, be happy” as the global economic chaos he has wrought invites retaliatory measures from China and the European Union.
BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!
— Trump Posts on (@trump_repost) April 9, 2025
THIS IS A GREAT TIME TO BUY!!! DJT
— Trump Posts on (@trump_repost) April 9, 2025
Breaking: E.U. votes to impose retaliatory 25% tariffs on U.S. goods
14:35
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Joe Sommerlad
European Union member states have voted in favor of imposing tariffs of their own on American imported goods in response to Trump’s aggressions, a statement from the European Commission has just announced.
The new tariffs will come in from April 15.
“The E.U. considers U.S. tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy,” the statement says.
“The E.U. has stated its clear preference to find negotiated outcomes with the U.S., which would be balanced and mutually beneficial.”
Meanwhile, Trump has not yet commented on today’s developments from Beijing and Brussels, preferring instead to whip House Republicans into shape.
It is IMPERATIVE that Republicans in the House pass the Tax Cut Bill, NOW! Our Country Will Boom!!!
— Trump Posts on (@trump_repost) April 9, 2025
Texas AG Ken Paxton will challenge incumbent Republican for Senate seat
14:25
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Joe Sommerlad
Paxton, a MAGA favorite, has announced that he will challenge fellow Republican and five-time incumbent Senator John Cornyn for his Lone Star State seat in 2026.
“I am announcing that I am running for U.S. Senate against John Cornyn,” Paxton said in an interview on Fox News show The Ingraham Angle on Tuesday night.
“We have another great U.S. senator, Ted Cruz [in Texas], and it’s time we have another great senator that will actually stand up and fight for Republican values, fight for the values of the people of Texas and also support Donald Trump in the areas that he’s focused on in a very significant way.”
Cornyn’s campaign immediately hit back.
“Ken Paxton is a fraud,” his team said, touting that the senator has often voted in favor of Trump's agenda.
Trump has previously expressed support for both men.
Paul Farrell reports.
Americans stockpile basic goods as Trump’s tariffs come into force: ‘We saw this during Covid’
14:05
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Joe Sommerlad
Republican appears to refer to Trump as ‘President C***’ at NRCC dinner
13:45
,
Joe Sommerlad
Here’s James Liddell with more on Minnesota Representative Tom Emmer’s almighty gaffe from last night.
Another economist cited by Trump to justify tariffs hits out: ‘It’s outrageous. They’re causing a recession’
13:25
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Joe Sommerlad
An article co-authored by Pau S Pujolas, an associate professor at McMaster University in Canada, was one of the five bibliographical references used by the White House to support the sweeping levies Trump has imposed on the rest of the world.
The 2024 study, entitled “Trade Deficits in Trade Wars”, explores who would win in a trade war between the U.S. and China, concluding that the side with a trade deficit is likely to come out on top.
But Pujolas now says that there is a “huge gap between my study and what the White House is doing. It’s an outrage”.
Bryony Gooch has more.
‘This is a great time to move your company to the United States,’ Trump declares
13:05
,
Joe Sommerlad
The president is in ful salesman mode in his first Truth Social posts of the day, advising multinational corporations to follow Apple’s example and pressing the House to push through his “big, beautiful bill” for good measure.
This is a GREAT time to move your COMPANY into the United States of America, like Apple, and so many others, in record numbers, are doing. ZERO TARIFFS, and almost immediate Electrical/Energy hook ups and approvals. No Environmental Delays. DON'T WAIT, DO IT NOW!
— Trump Posts on (@trump_repost) April 9, 2025
Republicans, it is more important now, than ever, that we pass THE ONE, BIG, BEAUTIFUL BILL. The USA will Soar like never before!!!
— Trump Posts on (@trump_repost) April 9, 2025
Bow ties, handkerchiefs and ice cream: How the E.U. is set to respond to Trump’s tariffs creatively
12:45
,
Joe Sommerlad
The European Union is ready to hit back at Donald Trump’s bombshell tariffs – but instead of simply striking back hard, Brussels may be looking to deploy a more creative response.
As part of his sweeping round of levies, the U.S. president landed the E.U. with a 20 per cent blanket tariff on all imports, just weeks after announcing damaging 25 per cent tariffs on automotive imports.
Brussels is now considering hitting the U.S. with tariffs targeting products that will particularly impact Republican heartlands, affecting billions of dollars of exports from America’s so-called ‘red states’, according to an internal document.
Alex Croft reports.
Breaking: China hikes tariffs on American goods to 84% in retaliation against Trump
12:25
,
Joe Sommerlad
Beijing’s finance ministry has announced it will impose 84 percent tariffs on all U.S. goods, up from the 34 percent previously announced, in response to Trump’s 104 percent tariffs on China.
We await his angry response.
Trump promises to raise military budget to $1 trillion even as DOGE hacks other agencies to the bones
12:10
,
Joe Sommerlad
Senior administration officials promised they would push through a roughly $1 trillion military budget for the coming year, even as the Elon Musk-led Department of Government Efficiency (DOGE) project aims to drastically shrink federal spending.
“We’re going to be approving a budget, and I’m proud to say, actually, the biggest one we’ve ever done for the military,” Trump said Monday during a White House event with Israeli Prime Minister Benjamin Netanyahu.
“$1 trillion,” Trump said elsewhere during the meeting. “Nobody has seen anything like it.”
The president added that some of the funding to pay for the increase would come from savings under DOGE.
Defense Secretary Pete Hegseth praised the president after the announcement and said Trump “is rebuilding our military – and FAST.”
Josh Marcus reports.
Judge orders White House to restore Associated Press access
11:50
,
Joe Sommerlad
The administration has been ordered to restore the Associated Press (AP)’s access to Trump in areas where other journalists are permitted, a federal judge ruled on Tuesday.
Judge Trevor McFadden of the D.C. Circuit ruled in favor of AP, finding in a 41-page order that the government could not choose which reporters it permits access to based on “viewpoint” because it violates the First Amendment.
The White House now must “put the AP on an equal playing field” with the other journalists, McFadden said.
Here’s more from Ariana Baio.
Trump tariffs spark bond market sell-off
11:32
,
Joe Sommerlad
U.S. government bonds, traditionally regarded a safe haven for investors in times of economic turmoil, are facing a sell-off this morning in response to the widespread market uncertainty sparked by Trump’s tariffs coming into effect, The Daily Telegraph reports.
The development is being seen as clear evidence of a growing lack of confidence in American assets and is likely to pile further pressure on the president to rethink his policy.
Trump made it a priority to lower yields on bond markets, a benchmark for government borrowing costs, and Treasury Secretary Scott Bessent said in February that he and the president “are focused on the 10-year Treasury and what is the yield of that”.
Calvin Yeoh, a portfolio manager at hedge fund Blue Edge Advisors, told the Telegraph that this morning’s development represents “a fire sale of Treasuries”, adding: “I haven’t seen moves or volatility of this size since the chaos of the pandemic in 2020.”
The yield on 30-year Treasuries reportedly surged as much as 0.25 percentage points overnight, a level last seen in November 2023.
Crumbs.
China hits back at JD Vance after he calls workers there ‘peasants’ amid tariff standoff
11:10
,
Joe Sommerlad
Beijing has rebuked the U.S. vice president after he referred to the nation’s population as “Chinese peasants.”
Vance appeared on Fox News last week, where he defended the Trump administration’s widespread new tariffs by asking what the “globalist economy” has done for the U.S.
He said the U.S. was “incurring a huge amount of debt to buy things that other countries make” and added: “We borrow money from Chinese peasants to buy the things those Chinese peasants manufacture.”
A spokesperson for the Chinese foreign ministry, Lin Jian, fired back at a Tuesday press conference, saying that it was “surprising and sad to hear the vice president say such ignorant and impolite words.”
He also noted that “China’s position on Sino-U.S. economic and trade relations has been made very clear.”
Gustaf Kilander has more.
Trump patronises coal miners: ‘You could give them a penthouse on 5th Avenue and they’d be unhappy’
