China has shown no sign of giving in to President Donald Trump’s threat to add a further 50 percent levy on its exports, taking the total to 104 percent.
White House Press Secretary Karoline Leavitt reiterated during a briefing on Tuesday that the additional tariffs would go into effect at midnight.
Trump has demanded that Beijing drop its retaliatory countermeasures, but the Chinese Commerce Ministry said it preferred to “fight to the end,” saying it “firmly opposes” the president’s trade war and that it considers its response “entirely justified.”
The White House is standing by the sweeping tariff program Trump imposed on some of the United States’ biggest trading partners last week, despite a global backlash that has left the world’s stock markets jittery.
After the president dug in his heels and insisted he was “not looking at” delaying their implementation, Treasury Secretary Scott Bessent told Fox Business host Larry Kudlow that 70 nations had already approached the administration about agreeing on new trade deals to ease the pain.
Meanwhile, Elon Musk has launched an extraordinary attack on Trump’s economic adviser Peter Navarro, calling him “truly a moron” and “dumber than a sack of bricks” on X over the administration’s controversial tariff policy.
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Key Points
- Elon Musk mocks Trump trade adviser Peter Navarro: ‘Dumber than a sack of bricks’
- China refuses to budge as deadline looms for 104% tariffs threat
- White House stands firms on Trump’s tariffs and claims 70 nations want to negotiate new deals
- Trump insists he is ‘not looking’ at pausing tariffs despite global backlash
- Supreme Court sides with Trump over Alien Enemies Act deportations
Wall Street closes with markets erasing early gains as tariff worries continue
21:07
,
Oliver O'Connell
The S&P 500 closed below 5,000 for the first time in nearly a year, following Tuesday's volatile session and a strong morning rally, as investor hopes faded for any imminent U.S. delays or concessions on tariffs before a midnight deadline.
After stocks tumbled at their fastest pace since the pandemic over the last three days, investors showed some signs of hope early in the day that President Donald Trump might soften his stance or postpone the April 9 deadline for tariffs. However, White House press secretary Karoline Leavitt stated on Tuesday afternoon that Trump expects the tariffs to go into effect, as nearly 70 countries have reached out seeking to negotiate to lessen the impact of U.S. trade policies.
Additional tariffs will also go into effect on China from midnight after it stated earlier that it would never accept the “blackmail nature” of the U.S. in response to Trump's threat to increase tariffs on Chinese imports to over 100%. Furthermore, United States Trade Representative Jamieson Greer indicated earlier that exemptions to the global tariffs are not anticipated in the near term.
According to preliminary data, the S&P 500 lost 75.85 points, or 1.49%, closing at 4,986.40 points, while the Nasdaq Composite fell 335.35 points, or 2.15%, to 15,267.91. The Dow Jones Industrial Average dropped 319.58 points, or 0.84%, to 37,657.76, erasing an earlier rally of 1,400 points.
After falling as low as 36.48 points earlier in the day, the CBOE Volatility Index — seen as Wall Street's 'fear gauge' — rose back above 54 late in the session, having reached its highest level since last August on Monday.
With reporting from Reuters.
Watch LIVE: Trump set to sign executive orders to boost US coal after announcing 104 percent tariffs on China
20:57
,
Oliver O'Connell
Senate confirms Trump pick for ambassador to Japan
20:52
,
Oliver O'Connell
The Senate has voted to confirm George Glass to be President Donald Trump’s Ambassador to Japan.
Glass served as U.S. ambassador to Portugal during Trump's first term in office.
Thirteen Democrats joined Republicans in approving his confirmation 66-32.
13 Democrats Bennet, Coons, Gallego, Hassan, Hickenlooper, Kaine, Kelly, Klobuchar, Reed, Rosen, Foreign Relations Ranking Member Shaheen, Warner, Warnock and King-I voted to confirm George Glass to be U.S. Ambassador to Japan. Senators Duckworth and McCormick missed the vote.
— Craig Caplan (@CraigCaplan) April 8, 2025
Watch: Miller argues China tariff s are in response to national security threat
20:44
,
Oliver O'Connell
MacCALLUM: Will we now see a 104% tariff against China?
— Aaron Rupar (@atrupar) April 8, 2025
STEPHEN MILLER: This is about the president of the United States defending the core national security interests of the United States pic.twitter.com/tZLmD3e6AG
Fetterman votes with Republicans in support of Huckabee
20:33
,
Gustaf Kilander
53-46: Pennsylvania Democratic Senator John Fetterman joined all Republicans in voting Yes for Mike Huckabee to be U.S. Ambassador to Israel for the second Trump Administration. Pennsylvania's other Senator Republican Dave McCormick missed the vote. pic.twitter.com/S3z0NZdpEv
— Craig Caplan (@CraigCaplan) April 8, 2025
Now Fox News is suggesting Trump could win Nobel Peace Prize over tariffs
20:30
,
Gustaf Kilander
Justin Baragona writes:
Fresh off of sounding the alarm that declining oil prices could be a sign of a coming economic downturn, former Trump economic adviser Stephen Moore told Fox News on Tuesday that the president’s global trade war could lead to a Nobel Peace prize if “he’s able to pull this off” and make the world economy “better.”
Fox News anchor John Roberts, meanwhile, wondered if there is a “Nobel Prize in trade” before noting that Donald Trump “might be up for that one.”
Following a global market sell-off in the days since Trump announced his “Liberation Day” tariffs that imposed massive and so-called “reciprocal” import taxes across the world, stocks rebounded early on Tuesday after Treasury Secretary Scott Bessent said the administration was engaging in tariff negotiations that could bring “good deals” with a number of countries.
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White House says additional tariffs on China go into effect at midnight
20:15
,
Gustaf Kilander
The Trump administration withdrew 11 pieces of ADA guidance. How will it affect compliance?
20:00
,
Gustaf Kilander
Kenya Hunter writes:
President Donald Trump’s administration withdrew 11 pieces of guidance last month related to the Americans with Disabilities Act that helped stores, hotels and other businesses understand their obligation to the law.
The guidance included tips on how to create accessible parking and fitting rooms, talk to hotel guests about accessible features and decide when a person with a disability could be assisted by a family member during hospitals' COVID-19 no-visitor bans. Five pieces of guidance were from the pandemic, while the oldest two were issued in 1999.
The Department of Justice said removing the guidance was done as part of a broader effort to reduce regulatory burdens on businesses.
Read more:
WATCH: White House says Trump believes America can make iPhones
19:45
,
Gustaf Kilander
Justice Department will narrow its focus on crypto-related enforcement
19:30
,
Gustaf Kilander
Alan Suderman and Alanna Durkin Richer write:
The Justice Department is disbanding a team of prosecutors who targeted cryptocurrency crimes and is shifting its focus away from complex crypto-related cases involving banking and securities law, according to a memo reviewed by The Associated Press.
“The Department of Justice is not a digital assets regulator,” Deputy Attorney General Todd Blanche said in a memo sent to prosecutors on Monday.
It’s the latest move by the Trump administration to try to boost the cryptocurrency industry while undoing the Biden administration’s efforts to crack down on wrongdoers in the industry. The Trump administration’s effort has included a similar shift in crypto-related enforcement priorities at the Securities and Exchange Commission. Blanche’s memo is part of a larger move by the Justice Department to step back from certain white-collar enforcement to align with President Donald Trump’s priorities of tackling illegal immigration, gangs and drug crimes.
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WATCH: White House on shipping Americans to El Salvador prisons
19:15
,
Gustaf Kilander
Musk’s growing public feud with Trump trade adviser over tariffs dismissed by White House: ‘Boys will be boys’
19:03
,
Gustaf Kilander
Andrew Feinberg writes:
The White House is attempting to paper over an ugly online spat between two of Donald Trump’s close confidantes over the tariff policies that have roiled stock markets and disturbed investors over the last six days as Trump himself is doubling down on increasing the taxes Americans will pay on Chinese imports.
Press Secretary Karoline Leavitt on Tuesday dismissed an online war of words between Tesla and SpaceX chief executive turned White House adviser Elon Musk and Peter Navarro, the longtime Trump aide and China hawk who has pressed Trump to tax Americans as a way of punishing foreign countries for trade deficits that are the result of market forces and decades-long trends in globalization of supply chains.
Read more:
This stock market crash isn’t the worst we’ve ever seen – but it could be the most dangerous
19:00
,
Gustaf Kilander
Vicky Pryce writes:
It is true that since Donald Trump’s inauguration, the world order has been changing. Geopolitics remain a concern, with conflicts unresolved in Ukraine and in Israel/Gaza. America’s proposed reductions in its contributions to Nato financing, and its withdrawal from the World Health Organisation and the Paris Agreement on climate change, have meant that other countries have had to rethink their spending and their roles in sustaining the world order as we knew it.
Trump has also paused US funding to the World Trade Organisation, which oversees global trade rules to prevent unfair practices and to adjudicate trade disputes. This week’s escalating trade war has sent a shock through the system, with many countries – and businesses – left trying to reposition themselves.
Read more:
WATCH: White House comments 'Boys will be boys' on Elon Musk and Peter Navarro feud
18:44
,
Gustaf Kilander
EPA to review ‘new science’ on fluoride as RFK Jr. reportedly tells CDC to stop recommending it
18:30
,
Gustaf Kilander
Julia Musto writes:
The Environmental Protection Agency said it would review “new science” on fluoride in drinking water in coordination with the Department of Health and Human Services this week.
The agency’s announcement comes as Health and Human Services Secretary Robert F. Kennedy, Jr., is reportedly instructing the Centers for Disease Control and Prevention to change its guidance on fluoridation - telling the agency to stop recommending fluoridation in communities nationwide.
Last fall – then as a nominee – the former presidential candidate said that the Trump administration would “advise all U.S. water systems to remove fluoride from public water,” citing potential health risks.
“Secretary Kennedy has long been at the forefront of this issue. His advocacy was instrumental in our decision to review fluoride exposure risks and we are committed to working alongside him, utilizing sound science as we advance our mission of protecting human health and the environment,” EPA Administrator Lee Zeldin explained.
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Trump 'will talk to any country that picks up the phone,' Leavitt says
18:30
,
Gustaf Kilander
Karoline Leavitt said during a press briefing Tuesday that “the President will talk to any country that picks up the phone to call, and I can tell you, the phones have been ringing off the hook wanting to talk to this administration, this President and his trade team, to try to strike a deal, and it's because the world knows that they need the United States of America.”
She added: “They need our markets. They need our consumers."
Trump to host Bukele, Meloni
18:20
,
Gustaf Kilander
Trump will host President Nayib Bukele of El Salvador on 14 April and Prime Minister Giorgia Meloni of Italy on 17 April, White House Press Secretary Karoline Leavitt announced on Tuesday.
Live: White House Press Secretary Karoline Leavitt briefs media amid Trump tariff fallout
18:13
,
Gustaf Kilander
UK should not ‘jump with both feet’ to retaliate against Trump tariffs – Starmer
18:00
,
Gustaf Kilander
David Lynch writes:
The UK should not “jump in with both feet” to retaliate against Donald Trump’s trade tariffs, Sir Keir Starmer has said.
The Prime Minister told a group of senior MPs that he was not open to “trading away” the NHS as part of an economic agreement with the US designed to stave off the impact of import taxes.
Sir Keir was also “very clear” that a digital tax on big tech firms should remain in place, as reports suggested abolishing the levy has been raised during negotiations with the US.
The Prime Minister’s call for a calm approach to US tariffs came as a sense of optimism returned to the financial markets after several days of heavy losses.
Read more:
Trump admin tells Supreme Court courts cannot direct Abrego Garcia decision-making
17:51
,
Alex Woodward
The Trump administration is telling the Supreme Court that the courts cannot direct the president’s “foreign policy” decision-making when it comes to sending Kilmar Abrego Garcia out of a Salvadoran prison.
In its brief, the administration repeatedly states Abrego Garcia is a member of MS-13, though there’s no evidence supporting that, and that “the United States has a compelling interest in not having a member of a foreign terrorist organization on U.S. soil, and the public interest strongly favors the exclusion of foreign terrorists from the United States.”
Report: DOGE using AI to surveil federal workers
17:42
,
Gustaf Kilander
Trump officials have told some government staff that people from Elon Musk’s Department of Government Efficiency are using artificial intelligence to surveil the communications of at least one federal agency for negative statements regarding President Donald Trump, two people told Reuters.
Some managers at the Environmental Protection Agency were told by Trump appointees that the Musk staffers were introducing the use of AI to monitor workers, such as by searching for language viewed as critical of Musk or Trump.
What is a Panican? Donald Trump’s newest insult explained amid tariff backlash
17:35
,
Joe Sommerlad
On the campaign trail, Trump repeatedly touted the “most beautiful word in the dictionary”: tariff.
Now, as president, he has conjured up a brand new expression for those voicing dissent against his sweeping levies targeting every country – bar Russia – which he imposed last week.
As trillions of dollars are wiped from Wall Street and markets around the globe reel from his tariff onslaught, the president took to Truth Social not to reassure anxious Americans, but to call those with woes a “Panican.”
“Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN,” he wrote Monday.
Adding to his growing list of unique phrases and bizarre nicknames, what exactly is a Panican?
Barney Davis and James Liddell have the answer.
Supreme Court pauses reinstatement of federal staff
17:17
,
Gustaf Kilander and Ariana Baio
The Supreme Court is temporarily pausing a California judge’s order that requires the administration to reinstate probationary employees at the departments of Agriculture, Defense, Energy, Interior, Treasury, and Veterans Affairs.
The court stated in a short, unsigned order that the nine non-profit organizations that had been granted an injunction following their lawsuit lacked legal standing.
“The District Court’s injunction was based solely on the allegations of the nine non-profit-organization plaintiffs in this case. But under established law, those allegations are presently insufficient to support the organizations’ standing,” the court said.
“This order does not address the claims of the other plaintiffs, which did not form the basis of the District Court’s preliminary injunction,” it added.
Trump planning $1,000 daily fine for migrants who don’t leave after deportation orders, report says
17:15
,
Joe Sommerlad
The administration is planning a hefty fine for migrants if they refuse to leave the United States after being cleared for deportation, according to a report.
In the latest push as part of Trump’s efforts to achieve the “largest deportation operation” in American history, immigrants will be fined up to $998 a day if they fail to leave the U.S., according to documents obtained by Reuters.
If they don’t pay the fine, their property could be seized, the potential plans say.
“Illegal aliens should use the CBP Home app to self-deport and leave the country now. If they don’t, they will face the consequences. This includes a fine of $998 per day for every day that the illegal alien overstayed their final deportation order,” a Department of Homeland Security spokesperson told The Independent in a statement.
“The safest option for illegal aliens is to self-deport.”
Kelly Rissman reports.
Jon Stewart mocks Republicans for being ‘so chill’ despite Trump tariff chaos
16:55
,
Joe Sommerlad
“Aren’t you the ‘Bud Light's turning my kids trans’ folks?” the Daily Show host asked of Republicans who have suddenly become “philosophical” now that their man is in the White House and inspiring economic turmoil.
James Liddell has more.
Newsmax guest defends Trump golfing as markets tumble: ‘Don’t want people to see you stressed’
16:35
,
Joe Sommerlad
Mark Kaye, a guest on the rightwing broadcaster’s morning show Wake Up America had this to say on the president’s incessant golfing during a crisis:
“The big thing I saw was they were all complaining that President Donald Trump was casually playing golf over the weekend.
“Well, when you’re in the middle of a negotiation, you don’t want people to see you stressed out.
“You don’t want them thinking that you’ve made a mistake. So Donald Trump goes, ‘Here’s the deal. It’s Liberation Day, you’re all getting reciprocal tariffs. I’m going to go hit the links.’
“And now all of the other countries realize that Donald Trump is not losing sleep over this, and that they are going to be losing a large portion of their GDP.”
Gustaf Kilander has more.
The countries scrambling to make deals with Trump before tariffs start
16:15
,
Joe Sommerlad
Here’s Mike Bedigan with the latest on Treasury Secretary Scott Bessent’s claim that the nations of the world are lining up to strike deals with the administration to sidestep Trump’s grim tariff regime killing off demand for their exports.
Pam Bondi on El Salvador ruling: ‘These terrorists better watch out’
16:00
,
Joe Sommerlad
The U.S. attorney general, seemingly never off conservative news channels these days, joins in the victory lap over the Supreme Court’s decision to temporarily allow the Trump administration to continue deporting alleged Venezuelan gang members.
“Those inmates, those violent gang members, those violent alien enemies will remain in El Salvador,” Bondi tells Lawrence Jones on Fox and Friends.
“[Judge James Boasberg] cannot get them back, so his jurisdiction is over... going forward, these terrorists better look out.”
Bondi on Boasberg: "Those inmates, those violent gang members, those violent alien enemies will remain in El Salvador. He cannot get them back, so his jurisdiction is over ... going forward, these terrorists better look out." pic.twitter.com/8ofYTTPxlg
— Aaron Rupar (@atrupar) April 8, 2025
Bondi describes the deportees as “terrorists” there but the only supporting evidence that any of the people sent to El Salvador meet that description is a sworn statement from an ICE official who said that the lack of evidence and criminal records involved means that they are terrorists by default.
“While it is true that many of the TdA [Tren de Aragua] members removed under the AEA [Alien Enemies Act] do not have criminal records in the United States, that is because they have only been in the United States for a short period of time,” the agent said.
“The lack of a criminal record does not indicate they pose a limited threat. In fact, based upon their association with TdA, the lack of specific information about each individual actually highlights the risk they pose. It demonstrates that they are terrorists with regard to whom we lack a complete profile.”
New poll shows who would win between Trump and Obama – if they are allowed to run for a third term
15:45
,
Joe Sommerlad
Trump has been publicly musing about running for a third term since the campaign and now a new poll shows how he would fare in a hypothetical matchup against fellow two-term president Barack Obama of the 22nd Amendment could be somehow overcome.
“I’d love that. Boy, I’d love that,” Trump said late last month when a reporter pressed him on the prospect of squaring up to Obama.
Here’s Kelly Rissman on how the numbers currently indicate that would play out.
Elon Musk mocks Trump trade adviser Peter Navarro on X: ‘Dumber than a sack of bricks’
15:30
,
Joe Sommerlad
Responding to a clip of Navarro describing him as a “car assembler” (as opposed to a car manufacturer) on an interview with CNBC, Musk writes: “Navarro is truly a moron. What he says here is demonstrably false.”
In a follow-up, he declares: “Tesla has the most American-made cars. Navarro is dumber than a sack of bricks.”
In a third, he writes: “By any definition whatsoever, Tesla is the most vertically integrated auto manufacturer in America with the highest percentage of US content. Navarro should ask the fake expert he invented, Ron Vara.”
Here’s a screenshot before it gets deleted:
Dow Jones bounces back 1,000 points amid rising hopes of deals to avert tariff chaos
15:15
,
Joe Sommerlad
The U.S. stock markets have opened much more strongly this morning, apparently in response to growing optimism about the prospects of America’s allies coming forward to express their willingness to sign new trade deals and sidestep the economic chaos Trump’s tariff war promises to yield.
The Dow Jones Industrial Average soared 1,419 points or 3.7 percent while the S&P 500 rose 3.8% and the Nasdaq 4.3 percent.
Treasury Secretary Scott Bessent’s claim that 70 countries have already approached the administration about doing import deals appears to have reassured investors, with his comments backed up just now by Trump saying that South Korea is ready to talk.
China refuses to budge as deadline looms for 104% tariffs threat
15:00
,
Joe Sommerlad
Beijing has shown no sign of giving in to Trump’s threat to add a further 50 percent tariff on its exports, taking the total to 104 percent, as the deadline the U.S. president set on Monday approaches.
Trump demanded that China drop its retaliatory countermeasures but the Chinese Commerce Ministry said it preferred to “fight to the end”, saying it “firmly opposes” the president’s trade war and that it considers its response calling its previous countermeasures “entirely justified.”
Here’s the original post:
Yesterday, China issued Retaliatory Tariffs of 34%, on top of their already record setting Tariffs, Non-Monetary Tariffs, Illegal Subsidization of companies, and massive long term Currency Manipulation, despite my warning that any country that Retaliates against the U.S. by…
— Trump Posts on (@trump_repost) April 7, 2025
In his latest post on the South Korea deal, he insisted: “China also wants to make a deal, badly, but they don't know how to get it started. We are waiting for their call. It will happen!”
Trump touts new trade deal with South Korea
14:45
,
Joe Sommerlad
The president’s first Truth Social post of the day sees him claim that Seoul is following Tokyo in reaching out to agree a new trade deal, rather than risk getting its exports tangled up in his tariff regime.
I just had a great call with the Acting President of South Korea. We talked about their tremendous and unsustainable Surplus, Tariffs, Shipbuilding, large scale purchase of U.S. LNG, their joint venture in an Alaska Pipeline, and payment for the big time Military Protection we…
— Trump Posts on (@trump_repost) April 8, 2025
Family detained by raid in border czar Tom Homan’s hometown released
14:30
,
Joe Sommerlad
A mother and three children who were “snatched” from their home by Immigration and Customs Enforcement (ICE) agents and detained for 11 days were released Monday following an outpouring of community anger, including a protest outside the house of Trump’s tough guy border czar.
The unnamed family was taken from their home on March 27 in the village of Sackets Harbor in upstate New York, where the acting head of ICE, Tom Homan, also lives.
Jon Stewart ridicules Trump’s new nickname following trade tariff chaos
14:15
,
Joe Sommerlad
Analysis: Trump proves that a president’s word salads can move the markets
13:55
,
Joe Sommerlad
The president said yesterday that he was not considering pausing his tariff program but failed to explain the contradictions inherent in the policy, Richard Hall writes.
Editorial: The president must act now to prevent his ‘Trump Slump’ becoming a global one
13:35
,
Joe Sommerlad
