Trump Tariffs Live Updates: US commerce secretary Howard Lutnick on Sunday signaled that tariff exemptions for electronics were short-term only and new tariffs would be forthcoming shortly.
China reacted to US tariff exemption on consumer electronics as a “small step”.
Trump on Friday defended his tariffs policy, indicating it was “doing really well” as China escalated the trade war to a new height by imposing a tariff rise on US imports to as much as 125 percent.
The Chinese gesture spooked global financial markets, triggering a steep selling of US government bonds, a decline in the dollar, and wildly whipsawed swings in stocks.
China’s Reaction On Trump Tariffs Live Updates
Beijing’s latest retaliatory measures added to investor anxiety already sparked by Trump’s surprise announcement last week to impose tariffs on numerous US trading partners.
Ai MovieMaker 2.0 – CLICK HERE Now Create Full-Length Movies
Donald Trump believes that it is China’s job, not America’s, to be at the negotiating table in trade, the White House indicated on Tuesday, following US president’s claims that Beijing reneged on a large Boeing deal.
“The ball is in China’s court. China must make a deal with us. We don’t have to make a deal with them,” was Trump’s statement, as Press Secretary Karoline Leavitt briefed.
“Stay informed with Trump tariffs live updates—tracking new announcements, global responses, and financial market shifts.”
“There’s not much difference between China and any other country except that they are much larger,” she added.
Leavitt’s remark came after Trump accused China of reneging on a huge deal with US aircraft manufacturer Boeing — in the aftermath of a Bloomberg news report that Beijing asked carriers to halt taking further deliveries of the company’s aircraft.
The report further said that Beijing requested Chinese carriers to postpone purchases of aircraft equipment and components from the US.
Also Read: What tariffs has Trump just announced?
“They just withdrew from the massive Boeing deal, stating that they will ‘not take possession’ of fully dedicated planes,” Trump wrote in a Truth Social post, directed at China.
He refused to provide details on the Boeing deal he envisioned.
“The ball is in China’s court. China must make a deal with us. We don’t need to make a deal with them,” was Trump’s utterance, briefed by Press Secretary Karoline Leavitt.
With Trump in mind to halt auto tariffs, exemptions for parts may be the deal-maker for US industry.
President Donald Trump hinted he might put the auto industry temporarily on a “timeout” from tariffs he already imposed on the sector.
“Follow Trump tariffs live updates for real-time coverage on new policies, trade reactions, and economic effects.”
The president was unwilling to say how long the possible timeout would last or what it would be like, but the automaker group is inquiring about how regulation could be altered on 25% tariffs on vehicles that employ American parts, if duties stay the same on made-up vehicles.
Experts have suggested short pauses won’t give automakers enough time to rework their enormous global supply chains, though exemptions for parts would undoubtedly help the industry through Trump’s trade war whiplash.
Trump informed journalists Monday that car manufacturers “need some time because they’re going to make them here, but they need more time.”.
So I’m talking about things like that,” referring to relocating production from Canada, Mexico and elsewhere. The news drove global auto stocks up Tuesday.
“Stay updated with the latest live news and analysis on Trump tariffs Live Updates—impacts, reactions, and market effects in real time.”
Matt Blunt, head of the American Automotive Policy Council, whose members include home-market automakers Ford, General Motors and Stellantis, said in a statement:
“The realization is growing that wide tariffs on components might warrant our common desire for creating a successful and expanding American automotive sector, and that a lot of these supply chain adjustments will happen over time.”
Trump first declared 25% auto tariffs in late March; the final vehicle tariffs went into effect on April 3, and the tariffs on parts were to take effect 30 days later.
“Get the latest Trump tariffs live updates—breaking news, expert analysis, and real-time market impacts.”
“The one-month delay is intended to give the U.S. government time to iron out regulations to exclude the value of auto parts made with U.S.-produced materials, which would not be subject to tariffs,” a view of law firm Foley & Lardner says, referring to a “carveout” for parts qualifying under regional trade agreement, the U.S.-Mexico-Canada Agreement. The Department of Commerce must make a finding “a system to calculate non-U.S. content” by May 3.