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Why Trump's dream of made-in-U.S I Phone is not going to happen.
For US President Donald Trump, there would be few bigger victories than having a domestically produced version of the iPhone, one of the most popular tech products in history. Such a prize would validate his tariff plan and campaign promise to bring manufacturing jobs back to America.
And the administration clearly feels this is an achievable goal, especially in the face of the 145% tariffs that it aims to impose on imports from China, Apple Inc.'s current manufacturing hub. The company also has
And the administration clearly feels this is an achievable goal, especially in the face of the 145% tariffs that it aims to impose on imports from China, Apple Inc.'s current manufacturing hub. The company also has
3 reasons why Trump announced 90-days tarrifs.
US President Donald Trump on Wednesday announced a 90-day pause on ‘discounted' reciprocal tariffs he announced on April 2 for all countries except China. Instead, Trump increased tariff to 125% on China, up from the previously declared 104%, “effective immediately” due to the “lack of respect that China has shown to the World's Markets.”
Trump said that over 75 countries had negotiated and not retaliated against the tariffs announced. During the pause, a significantly lower reciprocal tariff of
Trump said that over 75 countries had negotiated and not retaliated against the tariffs announced. During the pause, a significantly lower reciprocal tariff of
In a dramatic shift that stunned global markets, President Donald Trump on Wednesday announced a 90-day pause on most new tariffs, temporarily easing the economic pressure on dozens of countries while significantly ramping up penalties on China.
The announcement, which came just a day after sweeping duties kicked in, followed a period of intense financial market turmoil that wiped trillions from global stock values and sent U.S. bond yields soaring. Trump's reversal quickly turned markets around, sending the S&P 500 up more than 9% and fueling a global rebound.
The White House echoed the strategy behind the move in a pointed post on X: "DO NOT RETALIATE AND YOU WILL BE REWARDED", accompanied by a video clip of Treasury Secretary Scott Bessent addressing reporters outside the West Wing.
“As I told everyone a week ago, in this very spot, do not retaliate and you will be rewarded,” Bessent said. “And we saw the successful negotiating strategy that President Trump implemented a week ago today. It has brought more than 75 countries forward to negotiate. It took great courage — great courage — for him to stay the course until this moment.”
#whitehouse #TRUMP #TariffsPause
The announcement, which came just a day after sweeping duties kicked in, followed a period of intense financial market turmoil that wiped trillions from global stock values and sent U.S. bond yields soaring. Trump's reversal quickly turned markets around, sending the S&P 500 up more than 9% and fueling a global rebound.
The White House echoed the strategy behind the move in a pointed post on X: "DO NOT RETALIATE AND YOU WILL BE REWARDED", accompanied by a video clip of Treasury Secretary Scott Bessent addressing reporters outside the West Wing.
“As I told everyone a week ago, in this very spot, do not retaliate and you will be rewarded,” Bessent said. “And we saw the successful negotiating strategy that President Trump implemented a week ago today. It has brought more than 75 countries forward to negotiate. It took great courage — great courage — for him to stay the course until this moment.”
#whitehouse #TRUMP #TariffsPause
Who all are in the exemption list?
Trump said that over 75 countries have contacted his administration and have “not retaliated” on his “strong suggestion”, which is why he took the decision to halt the tariffs.
Bessent on Wednesday couched the turnabout as a victory for Trump, telling reporters the president “created maximum negotiating leverage for himself” in talks with other nations. He said he would be speaking to officials from Vietnam, Japan, India and South Korea in the coming days.
However, it is not yet clear which nations are in the tariff exemption list. Reports have indicated that India, termed by Trump as a “tariff abuser” is exempted from higher duties. New Delhi has been engaged with Washington for a bilateral trade agreement for the past few weeks.
How the stocks have reacted?
Stocks staged their best rally since 2008 as euphoria gripped markets after Trump's abrupt announcement. The S&P 500 Index soared 9.5 percent, rebounding from bear-market territory. The tech-heavy Nasdaq 100 surged 12 percent. Goldman Sachs Group Inc. economists rescinded their forecast for a US recession. Asian stocks too posted their biggest jump in more than two years, while Chinese shares advanced in the hopes of more stimulus.
#TariffsPause #stockmarkets #exemptionlist #TRUMP
Trump said that over 75 countries have contacted his administration and have “not retaliated” on his “strong suggestion”, which is why he took the decision to halt the tariffs.
Bessent on Wednesday couched the turnabout as a victory for Trump, telling reporters the president “created maximum negotiating leverage for himself” in talks with other nations. He said he would be speaking to officials from Vietnam, Japan, India and South Korea in the coming days.
However, it is not yet clear which nations are in the tariff exemption list. Reports have indicated that India, termed by Trump as a “tariff abuser” is exempted from higher duties. New Delhi has been engaged with Washington for a bilateral trade agreement for the past few weeks.
How the stocks have reacted?
Stocks staged their best rally since 2008 as euphoria gripped markets after Trump's abrupt announcement. The S&P 500 Index soared 9.5 percent, rebounding from bear-market territory. The tech-heavy Nasdaq 100 surged 12 percent. Goldman Sachs Group Inc. economists rescinded their forecast for a US recession. Asian stocks too posted their biggest jump in more than two years, while Chinese shares advanced in the hopes of more stimulus.
#TariffsPause #stockmarkets #exemptionlist #TRUMP
What about China?
The US President had earlier imposed a tariff of 20 percent on Chinese goods, which was topped up with an additional 34 percent on April 3. Later, Beijing responded with its own 34 percent duty on American goods. In response, Trump announced another 50 percent tariff to take it to 84 percent and later to 104 percent. On April 9, Trump, while announcing a pause, announced a 125 percent tariff on the world's second-largest economy. Currently, China's tariff on US goods stands at 84 percent.
Are there any more tariffs and exceptions?
These tariffs announced by the US are in addition to separate rates for steel, aluminum and auto imports. Tariffs of 10 percent or 25 percent on Canadian and Mexican goods, with the exception items covered by the North American trade pact, will also stay the same, the official said.
The pharma sector is unlikely to get any relief as Trump reiterated on Wednesday his intention to move forward with tariffs on drug imports.
Why were tariffs put on hold?
In the last few days, the US President has been under a lot of pressure from investors and business leaders to reduce or remove tariffs.
Trump said he thought about paring back his tariffs “over the last few days” in discussions with Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, and the decision “probably came together early this morning.”
#TariffsPause #china #usa #TRUMP
The US President had earlier imposed a tariff of 20 percent on Chinese goods, which was topped up with an additional 34 percent on April 3. Later, Beijing responded with its own 34 percent duty on American goods. In response, Trump announced another 50 percent tariff to take it to 84 percent and later to 104 percent. On April 9, Trump, while announcing a pause, announced a 125 percent tariff on the world's second-largest economy. Currently, China's tariff on US goods stands at 84 percent.
Are there any more tariffs and exceptions?
These tariffs announced by the US are in addition to separate rates for steel, aluminum and auto imports. Tariffs of 10 percent or 25 percent on Canadian and Mexican goods, with the exception items covered by the North American trade pact, will also stay the same, the official said.
The pharma sector is unlikely to get any relief as Trump reiterated on Wednesday his intention to move forward with tariffs on drug imports.
Why were tariffs put on hold?
In the last few days, the US President has been under a lot of pressure from investors and business leaders to reduce or remove tariffs.
Trump said he thought about paring back his tariffs “over the last few days” in discussions with Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, and the decision “probably came together early this morning.”
#TariffsPause #china #usa #TRUMP
US President Donald Trump in a dramatic U-turn on April 9 announced a 90-day reprieve from higher tariffs for over 75 countries even as he doubled down on his attack against China, providing a massive boost to global stock markets.
“I have authorised a 90-day PAUSE, and a substantially lowered reciprocal tariff during this period, of 10 percent, also effective immediately,” Trump said.
Trump's about-face came around 13 hours after high duties on 56 nations and the European Union took effect, fuelling market turmoil and stoking recession fears.
So, what is the current tariff rate?
Trump had announced on “Liberation Day” (April 3) that he will be imposing tariffs, effective from April 9, on countries that are engaged in “unfair trade practices” and have big deficits with the US.
The duties announced were in addition to a baseline reciprocal tariff of 10 percent on all the goods coming into the US. Trump has not removed this 10 percent tariff rate and it will be applicable for all the goods imported into the US.
#TariffsPause #TRUMP
“I have authorised a 90-day PAUSE, and a substantially lowered reciprocal tariff during this period, of 10 percent, also effective immediately,” Trump said.
Trump's about-face came around 13 hours after high duties on 56 nations and the European Union took effect, fuelling market turmoil and stoking recession fears.
So, what is the current tariff rate?
Trump had announced on “Liberation Day” (April 3) that he will be imposing tariffs, effective from April 9, on countries that are engaged in “unfair trade practices” and have big deficits with the US.
The duties announced were in addition to a baseline reciprocal tariff of 10 percent on all the goods coming into the US. Trump has not removed this 10 percent tariff rate and it will be applicable for all the goods imported into the US.
#TariffsPause #TRUMP
India is trying to sign a partial bilateral trade agreement (BTA) with the US before the end of 90-day pause on higher tariffs announced by President Donald Trump.
In the next 90 days, New Delhi will pursue a three-pronged strategy aimed at invigorating its trade relations and protecting its domestic industry, a source said.
The preliminary pact is expected to cover essential and non-sensitive products. The government is also considering a reduction of duties on several items imported from US.
In response, Washington is likely to offer New Delhi some permanent tariff relief.
A series of discussions have already taken place between the ministry of external affairs and the US administration. Prime Minister's Office, ministry of commerce & industry, ministry of external affairs and ministry of finance are progressing steadily on the proposed deal.
#TariffsPause #TRUMP #90dayspause
In the next 90 days, New Delhi will pursue a three-pronged strategy aimed at invigorating its trade relations and protecting its domestic industry, a source said.
The preliminary pact is expected to cover essential and non-sensitive products. The government is also considering a reduction of duties on several items imported from US.
In response, Washington is likely to offer New Delhi some permanent tariff relief.
A series of discussions have already taken place between the ministry of external affairs and the US administration. Prime Minister's Office, ministry of commerce & industry, ministry of external affairs and ministry of finance are progressing steadily on the proposed deal.
#TariffsPause #TRUMP #90dayspause
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