Skip next section Trump says tariffs are ‘a beautiful thing to behold’
04/07/2025April 7, 2025
Trump says tariffs are ‘a beautiful thing to behold’
US President said that are the only way to solve the problem of “massive financial deficits” with China, the EU and others.
“They are already in effect, and a beautiful thing to behold,” he wrote in a post on Truth Social.
He claimed that the deficits that have grown during the years of President Joe Biden, will be reversed “QUICKLY.”
“Some day people will realize that Tariffs, for the United States of America, are a very beautiful thing!” Trump concluded.
https://p.dw.com/p/4slKr
Skip next section Market panic grows in the United States
04/07/2025April 7, 2025
Market panic grows in the United States
Wall Street was bracing itself for big losses at the start of the week over on exports to the United States.
Futures contracts on the New York Stock Exchange’s main boards were sharply lower on Sunday, pointing to more pain for battered Wall Street stocks when markets open on Monday.
Just over half an hour after contracts resumed trading at 2200 GMT, the Dow Jones industrial average was down 3.56%, while the broader S&P 500 index was off 3.85%.
https://p.dw.com/p/4slKo
Skip next section Investors brace for more stock market volatility
04/06/2025April 6, 2025
Investors brace for more stock market volatility
Investors were nervously awaiting the opening of global stock markets on Monday following a major selloff last week.
In the two days following US President shock tariff announcement, the benchmark S&P 500 index fell 10.5% — its biggest weekly drop since March 2020. The S&P lost about $5 trillion in market value.
The tech-heavy Nasdaq ended down more than 20% from its December record high, confirming that the index is now in a bear market.
Other stock markets around the world closed sharply down on Thursday and Friday.
On Sunday, stock index closed down nearly 7%, losing more than 800 points, according to local media.
Stock market futures will open at 1800 Eastern (2200 GMT/UTC) on Sunday, which will give an indication about how US trading might look on Monday.
Some traders believe the stock market will at least attempt to stage a comeback, while many others think the bull market is dead and the selloff will continue.
https://p.dw.com/p/4slGf
Skip next section UK plans to protect industry over US tariffs, says Starmer
04/06/2025April 6, 2025
UK plans to protect industry over US tariffs, says Starmer
Prime Minister Keir Starmer warned that the “world as we knew it” is over, referring to the imposition of new tariffs on global imports to the .
In an op-ed for the Sunday Telegraph newspaper, Starmer said the new world would be governed less by established rules and “more by deals and alliances.”
The UK leader reiterated his government’s belief that “nobody wins from a trade war” and that the immediate strategy was “to keep calm and fight for the best deal.”
However, he insisted a US-UK trade deal would only be struck “if it is right for British business” and that “all options remain on the table” in reacting to the tariffs.
The UK has so far got off lightly with President imposing a 10% tariff on its exports to the US, which took effect Saturday.
That compares to a new tariff of 34% on imports from and a 20% levy for states.
UK luxury carmaker Jaguar Land Rover said Saturday that it would “pause” shipments to the US in April as it adjusts to “the new trading terms.”
Starmer said his government was “ready to use industrial policy to help shelter British business from the storm.”
https://p.dw.com/p/4sl6K
Skip next section Trump official on why Russia wasn’t targeted
04/06/2025April 6, 2025
Trump official on why Russia wasn’t targeted
has not been targeted by the latest raft of due to talks with Moscow over a peace deal in the , Kevin Hassett, head of the White House National Economic Council, told ABC’s This Week.
“There’s obviously an ongoing negotiation with Russia and Ukraine, and I think the President made the decision not to conflate the two issues. It doesn’t mean that Russia, in the fullest of time, is going to be treated wildly different than every other country,” Hassett said.
On Wednesday, a White House official said the reason for Russia’s omission was due to negligible trade with Moscow due to sanctions imposed by Washington in the wake of Russia’s full-scale invasion of . US trade with Russia stood at $3.5 billion (€3.2 billion) in 2024, according to the US Census Bureau.
At the same time, the Trump administration has imposed a 10% tariff on all goods imported into the US from Ukraine, as it continues to deal .
https://p.dw.com/p/4slDE
Skip next section Trump official explains why penguin-inhabited islands also face US tariffs
04/06/2025April 6, 2025
Trump official explains why penguin-inhabited islands also face US tariffs
US Commerce Secretary Howard Lutnick said that some islands inhabited by penguins were included on President tariff list so that countries could not use them as a loophole.
“What happens is, if you leave anything off the list, the countries that try to basically arbitrage America, go through those countries to us,” he told CBS TV’s “Face the Nation” program.
Among the countries named for Trump’s minimum 10% tariffs were the Heard and McDonald Islands, a barren sub-Antarctic Australian territory uninhabited by humans, but home to four different species of penguin.
Penguin memes have since gone viral on social media and US Senate Democratic leader Chuck Schumer noted how “Trump slapped tariffs on penguins and not on Putin,” referring to the fact that Russia was not on the US tariff list.
https://p.dw.com/p/4slCq
Skip next section Bessent dismisses likelihood of US recession
04/06/2025April 6, 2025
Bessent dismisses likelihood of US recession
US Treasury Secretary Scott Bessent downplayed last week’s stock market drop in reaction to President new tariffs, saying there was “no reason” to anticipate a recession based on the levies.
Bessent cited stronger-than-anticipated US jobs growth, published Friday, as proof that the world’s largest economy was still performing well.
“We could see from the jobs number on Friday, that was well above expectations, that we are moving forward, so I see no reason that we have to price in a recession,” he told NBC’s Meet the Press.
The uncertainty over the impact on trade from the new tariffs helped to fuel a days-long panic in global financial markets.
Trump’s announcements wiped $5 trillion (€4.6 trillion) off the value of the S&P 500 index by Friday’s close, a record two-day decline.
Bessent also said Trump had “created maximum leverage for himself” in negotiations with trade partners over the new tariffs, which are set to take effect on Wednesday.
“I think we’re going to have to see what the countries offer, and whether it’s believable,” Bessent said, adding that other nations had been “bad actors for a long time.”
“It’s not the kind of thing you can negotiate away in days or weeks,” he claimed.
https://p.dw.com/p/4slCi
Skip next section Indonesia says no retaliation against Trump tariff
04/06/2025April 6, 2025
Indonesia says no retaliation against Trump tariff
has issued its first response to new 32% tariff on Southeast Asia’s largest economy.
Chief Economic Minister Airlangga Hartarto said in a statement that Indonesia would pursue diplomacy and negotiations to find mutually beneficial solutions rather than retaliate.
“The approach was taken by considering the long-term interest of bilateral trade relations, as well as to maintain the investment climate and national economic stability,” Airlangga said.
He added that the government would support potentially impacted sectors, such as the apparel and footwear industry.
Airlangga said Jakarta would also find ways to increase trade with European countries as an alternative to the US and China.
The government has previously said it would send a high-level delegation to the US for direct trade negotiations with Washington
https://p.dw.com/p/4sl6P
Skip next section Vietnam seeks delay to 46% US tariff
04/06/2025April 6, 2025
Vietnam seeks delay to 46% US tariff
has asked for a last-minute delay to a massive 46% tariff imposed by the US on all its imports.
Former President To Lam said he had appointed Deputy Prime Minister Ho Duc Phoc to serve as the primary contact with the US side on the issue, “with the aim of reaching an agreement as soon as possible.”
Experts believe the new tariffs will hit hardest in the Southeast Asian country’s seafood, garments, footwear, wood, electronics and smartphone sectors.
Some economists have warned that the likes of Nike and Adidas could reduce manufacturing in Vietnam, causing factory downsizing and job cuts.
Lam, who is General Secretary of the Communist Party of Vietnam has written to US President requesting a delay of at least 45 days, according to media reports.
He also said he hoped to meet Trump in Washington next month to finalize the matter.
Trump said on Friday he had had “a very productive” call with Lam, who he said wanted to make a deal on tariffs.
The new levies come amid signs the red-hot Vietnamese economy is slowing.
In the first quarter, gross domestic product (GDP) grew 6.93% year-on-year, down slightly from the 7.55% expansion in the final quarter of last year.
https://p.dw.com/p/4sl6O
Skip next section Netanyahu: I will urge Trump to cut tariffs during White House talks04/06/2025April 6, 2025
Netanyahu: I will urge Trump to cut tariffs during White House talks
Israeli Prime Minister said he hopes US President will ease tariffs imposed on Israel when the pair meet in Washington next week.
“I hope that I will be able to help on this issue. That is the intention,” Netanyahu said of the tariffs. “I am the first international leader, the first foreign leader, who will meet with President Trump on the issue, which is so important to the Israeli economy.”
Netanyahu is expected to meet Trump at the White House on Monday.
Goods from face a 17% US levy under .
A senior Ministry of Finance source told Israeli outlet Ynet that the country’s goal is to cut the tariffs to 10%.
Israel last week announced plans to cancel its remaining tariffs on US imports, only 2% of which are subject to levies, including high-end machinery and medical equipment.
The Israeli Manufacturers Association warned Netanyahu that the Israeli economy could lose up to $3 billion (€2.74 billion) as a result of the new tariffs, costing thousands of jobs.
Meanwhile, the head of the Israeli Diamonds Exchange Nissim Zuaretz wrote to Netanyahu, urging him to ensure Trump doesn’t apply tariffs on Israeli diamond exports.
“Not acting on the matter could lead to damaging the livelihood of thousands of families,” Zuaretz wrote.
https://p.dw.com/p/4sl6B
Skip next section Taiwanese president eyes zero tariffs with US
04/06/2025April 6, 2025
Taiwanese president eyes zero tariffs with US
President Lai Ching-te has offered zero tariffs as the basis for talks with the US, rather than retaliating against President new 32% levies on the island territory.
In a video message, Lai said given Taiwan’s dependence on trade, the economy would inevitably have a hard time dealing with the tariffs, but that he thought the impact could be minimized.
“Tariff negotiations can start with ‘zero tariffs’ between Taiwan and the United States, with reference to the US-Canada-Mexico free trade agreement,” Lai said.
The president vowed to remove trade barriers and said Taiwanese companies would raise their investments in the US.
The new US tariffs do not apply to , a major Taiwanese export. The island produces over 60% of the world’s chips and 90% of the most advanced ones.
Last month, the world’s largest contract chipmaker, TSMC announced an additional in the US.
https://p.dw.com/p/4sl68
Skip next section EU’s von der Leyen warns bloc will ‘defend its interests’
04/06/2025April 6, 2025
EU’s von der Leyen warns bloc will ‘defend its interests’
chief said the bloc is prepared to “defend its interests with proportionate ” against and will work with partners towards this end.
Von der Leyen, the President of the , the EU’s executive arm, issued a statement following a call with UK Prime Minister Keir Starmer, whose country has been hit by 10% tariffs.
The president also reaffirmed the EU’s “commitment to engaging in negotiations with the US.”
The Commission, which also coordinates the bloc’s trade policy, is due to propose to EU states on Monday a list of US products, worth $28 billion (€25.6 billion), to hit with extra duties.
The imports targeted include US meat, cereals, wine, wood and clothing, among other goods.
Those retaliatory measures are in response to Trump’s steel and aluminum tariffs rather than the broader reciprocal levies announced last week.
The 27-nation EU faces 25% tariffs on steel, aluminum and car exports and “reciprocal” tariffs of 20% from Wednesday for almost all other goods.
The new US tariffs will cover more than two-thirds of EU exports to the US.
On Monday, Luxembourg will host the first meeting of EU trade ministers since Trump’s sweeping tariffs were announced, where ministers are expected to push for a unified response.
https://p.dw.com/p/4sl5x
Skip next section Trump adviser: More than 50 countries want to renegotiate trade
04/06/2025April 6, 2025
Trump adviser: More than 50 countries want to renegotiate trade
Dozens of countries have so far reached out to renegotiate tariffs with the , a senior economic advisor to US President said.
National Economic Council Director Kevin Hassett told ABC’s This Week that had so far driven “more than 50” countries to contact the White House to begin trade talks.
Similar remarks were made by US Treasury Secretary Scott Bessent to NBC’s Meet the Press.
Hassett insisted that the duties would not lead to major price rises at home.
“I don’t think that you’re going to see a big effect on the consumer in the US,” he said.
Hassett also denied that Trump hoped the new tariffs would crash financial markets to pressure the to cut interest rates.
He insisted there would be no “political coercion” of the US central bank.
In a Truth Social post on Friday, Trump shared a video that suggested his tariffs aimed to hammer the stock market on purpose in a bid to force lower interest rates.
US stocks tumbled by around 10% on Thursday and Friday, after Trump announced a that was more aggressive than investors had been anticipating.
https://p.dw.com/p/4sl65
Skip next section Welcome to our coverage04/06/2025April 6, 2025
Welcome to our coverage
Thank you for joining us as we bring you the latest developments on US President sweeping , that has sent shockwaves around the world.
As nations digest the impact of the punitive new levies, several leaders have spoken about the desire to cut their own tariffs on imports from the US.
Investors, meanwhile, are nervously awaiting the opening of financial markets on Monday, after large falls in stock prices late last week, following the announcement.
https://p.dw.com/p/4sl9L
The post Trump tariffs: Nations seek US trade talks as markets panic appeared first on Deutsche Welle.
