China has hit back at the US after Donald Trump’s dramatic reversal on tariff threats isolated Beijing as the primary target of his trade offensive, dimming the prospect of immediate de-escalation.

The Chinese government on Thursday said it will reduce the number of US films allowed to enter the country, hours after Trump imposed record duties on China’s imports and paused those on dozens other countries. The decision opens a new front in a confrontation that until now centered on the trade in goods and relied largely on tariffs and export controls as a means of retaliation.

The countermeasure came a day after Trump said he was expecting Beijing to call, suggesting that Chinese President Xi Jinping is intent on resisting US pressure despite growing headwinds for his economy.

“The Chinese don’t want to talk to the US when it looks like they’re outgunned,” Derek Scissors, senior fellow at the American Enterprise Institute who previously worked at the Pentagon, said before the China Film Administration announced the film curb. “Either they come to Trump with some sort of quiet trade, taking the chance he’ll reject it and brag about it, or nothing happens.”

Read more: https://www.bloomberg.com/news/articles/2025-04-10/trump-isolates-china-with-tariff-pivot-setting-up-xi-showdown?sref=omvmmwIg

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US Treasury Secretary Scott Bessent said the Trump administration “has been overwhelmed by the response from mostly our allies who want to come and negotiate in good faith,” in response to President Donald Trump’s tariffs. President Trump announced Wednesday he would raise duties on China to 125% while pausing reciprocal tariffs on dozens of non-retaliating countries for 90 days “effective immediately.” Bessent spoke at the White House.

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President Donald #Trump said he would pause higher reciprocal #tariffs for 90 days on dozens of #trade partners, while raising duties on #China to 125%. The president’s about-face comes roughly 13 hours after higher reciprocal duties on 56 nations and the European Union went into effect, a move that fueled market turmoil and stoked recession fears. The president came under massive pressure from business leaders and investors to reverse course. #markets #politics #investing #finance #money #geopolitics

Read more: https://www.bloomberg.com/news/articles/2025-04-09/trump-pauses-higher-duties-on-most-nations-hikes-china-tariffs

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Lego opened a massive factory in Vietnam, just days after the country was hit by a 46% tariff on US exports.

Here's why the world's largest toymaker isn't losing sleep over Donald Trump's trade war. bloom.bg/4lp6Woj

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President Donald Trump announced a 90-day pause on higher reciprocal tariffs that hit dozens of trade partners after midnight, while raising duties on China to 125%.

The president’s about-face comes roughly 13 hours after higher reciprocal duties on 56 nations and the European Union took effect, fueling market turmoil and stoking recession fears. Trump came under massive pressure from business leaders and investors to reverse course.

“I thought that people were jumping a little bit out of line,” Trump told reporters at the White House on Wednesday when asked why he backed off. “They were getting a little bit yippy, a little bit afraid.”

Stocks surged the most since 2020 on Trump’s abrupt announcement, with the S&P 500 Index rising over 8%, with almost every company gaining, and the tech-heavy Nasdaq 100 jumping the most since 2008. Goldman Sachs Group Inc. economists rescinded their forecast for a US recession.

Bonds eased an earlier selloff but remained down across maturities for a third day. Trump was looking at the bond market as he made his decision, he told reporters.

Read more: https://www.bloomberg.com/news/articles/2025-04-09/trump-pauses-higher-duties-on-most-nations-hikes-china-tariffs?sref=omvmmwIg

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President Donald Trump announced a 90-day pause on higher reciprocal tariffs that hit dozens of trade partners after midnight, while raising duties on China to 125%.

The president’s about-face comes roughly 13 hours after higher reciprocal duties on 56 nations and the European Union went into effect, a move that fueled market turmoil and stoked recession fears. Trump came under massive pressure from business leaders and investors to reverse course.

“I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump posted Wednesday on social media.

Countries that were hit with the higher, reciprocal duties that went into effect Wednesday will now be taxed at the earlier 10% baseline rate applied to other nations, with the exception of China, according to a White House official. Trump said that more than 75 countries had contacted his administration to negotiate on trade barriers and “have not, at my strong suggestion, retaliated in any way, shape, or form.”

Read more: https://www.bloomberg.com/news/articles/2025-04-09/trump-pauses-higher-duties-on-most-nations-hikes-china-tariffs?sref=omvmmwIg

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President Donald Trump announced a 90-day pause on higher reciprocal tariffs that hit dozens of trade partners after midnight, while raising duties on China to 125%.

The president’s about-face comes roughly 13 hours after higher reciprocal duties on 56 nations and the European Union took effect, fueling market turmoil and stoking recession fears. Trump came under massive pressure from business leaders and investors to reverse course.

“I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump posted Wednesday on social media.

Stocks surged the most since 2020 on Trump’s abrupt announcement, with the S&P 500 Index rising over 8%, with almost every company gaining, and the tech-heavy Nasdaq 100 jumping the most since 2008. Goldman Sachs Group Inc. economists rescinded their forecast for a US recession.

Countries that were hit with the higher, reciprocal duties that went into effect Wednesday will now be taxed at the earlier 10% baseline rate applied to other nations, with the exception of China, according to a White House official. Trump said that more than 75 countries had contacted his administration to negotiate on trade barriers and “have not, at my strong suggestion, retaliated in any way, shape, or form.”

Read more: https://www.bloomberg.com/news/articles/2025-04-09/trump-pauses-higher-duties-on-most-nations-hikes-china-tariffs?sref=omvmmwIg

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US trading ended Wednesday with the biggest surge in stocks since 2020 after President Donald Trump said he’d pause tariffs on dozens of countries for 90 days.

Asked the reason for the reprieve, Trump said that people were “getting a little bit yippy, a little bit afraid”. The president has been under intense pressure from business leaders and investors to reverse course.

The rally sent the S&P 500 soaring more than 9%. It was an abrupt reversal from the gauge’s previous teetering on the brink of a 20% bear-market plunge. The index is still down more then 7% year to date and closed lower than on Apr. 2, which Trump had dubbed “Liberation Day” to reflect the date at which tariffs went into effect.

Read more: https://www.bloomberg.com/news/newsletters/2025-04-09/us-stocks-surge-after-trump-says-he-s-pausing-some-tariffs-for-90-days?sref=omvmmwIg

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President Donald Trump announced a 90-day pause on higher reciprocal tariffs that hit dozens of trade partners after midnight, while raising duties on China to 125%.

The president’s about-face comes roughly 13 hours after higher reciprocal duties on 56 nations and the European Union took effect, fueling market turmoil and stoking recession fears. Trump came under massive pressure from business leaders and investors to reverse course.

“I thought that people were jumping a little bit out of line,” Trump told reporters at the White House on Wednesday when asked why he backed off. “They were getting a little bit yippy, a little bit afraid.”

Stocks surged the most since 2020 on Trump’s abrupt announcement, with the S&P 500 Index rising over 8%, with almost every company gaining, and the tech-heavy Nasdaq 100 jumping the most since 2008. Goldman Sachs Group Inc. economists rescinded their forecast for a US recession.

Bonds eased an earlier selloff but remained down across maturities for a third day. Trump was looking at the bond market as he made his decision, he told reporters.

Read more: https://www.bloomberg.com/news/articles/2025-04-09/trump-pauses-higher-duties-on-most-nations-hikes-china-tariffs?sref=omvmmwIg

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Iran said it will start high-level talks with the US in Oman this weekend, confirming Donald Trump’s announcement that they’ll discuss the standoff over Tehran’s nuclear program.

“The talks will be held on Saturday in Oman,” Iranian Foreign Minister Abbas Araghchi said on Tuesday, adding that sanctions relief was Iran’s main goal. “They will take place in an indirect format, and we don’t accept any other method of negotiation.”

Trump, speaking Monday, said that “we’re dealing with them directly.”

“A lot of people say, ‘Oh, maybe you’re going through surrogates, you’re not dealing directly, you’re dealing through other countries.’,” he said. “No — we’re dealing with them directly.”

The meeting, according to Iran’s state-run Nour News, will be led by Araghchi and Steve Witkoff, the US president’s special envoy for the Middle East and one of Trump’s closest advisers. Omani Foreign Minister Badr Al Busaidi will help mediate the discussions, Nour reported.

Read more: https://www.bloomberg.com/news/articles/2025-04-08/iran-us-talks-in-oman?sref=omvmmwIg

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