‘There will be transition value’: Donald Trump holds ground on tariffs as US markets falter

Kaumi GazetteTop Stories11 April, 20258.2K Views


'There will be transition cost': Donald Trump holds ground on tariffs as US markets falter
President Donald Trump speaks at a cupboard assembly within the Cabinet Room of the White House, Thursday, April 10, 2025, in Washington. (AP)

US President Donald Trump on Thursday mentioned that his tariff coverage would include a “transition cost,” as markets dropped once more attributable to ongoing uncertainty across the commerce battle.
“There will be a transition cost, and transition problems, but in the end, it’s going to be a beautiful thing,” Trump mentioned. The US president is aiming to vary the worldwide financial system by encouraging producers to function from the United States.
His remark got here shortly after the White House mentioned that tariffs on China would rise to 145 per cent on some merchandise. This features a earlier 20 per cent tariff on these making the drug fentanyl.

Despite the tensions, Trump mentioned he nonetheless hopes to make an settlement with China. “I think we’ll end up working something out that’s very good for both countries. I look forward to it,” he mentioned.
Markets continued to indicate indicators of bother on Friday, after Trump’s earlier announcement of a ten per cent tariff on all international locations besides China.
On Wednesday afternoon, Trump mentioned that for 90 days, the US would apply a flat 10 per cent tariff on all international locations besides China, as a substitute of setting completely different “reciprocal” tariffs for every nation.
Trump additionally paused a plan to impose tariffs as excessive as 50 per cent on international locations he described as the “worst offenders.” However, the commerce dispute with China stays.
Meanwhile, China has elevated its retaliatory tariffs on American items to 84 per cent .
In a televised cupboard assembly, Trump mentioned, “There would always be transition difficulty,” however added that “it was the biggest day in history in markets.”
He mentioned buyers have been happy with how the US was managing its commerce coverage and that the nation was “trying to get the world to treat us fairly.”
He additionally mentioned, “everybody wants to come and make a deal” to decrease tariffs.
US commerce secretary Howard Lutnick, who was additionally on the assembly, mentioned a number of international locations have been getting into talks and bringing “offers they never would have” if not for Trump’s commerce actions.
“We’re getting the respect we deserve now,” Lutnick mentioned. “I think you’re going to see historic deals one after the other.”
Moreover, Trump additionally mentioned the US would “love to be able to work a deal (with China)” and added that he had “great respect for President Xi.” He additionally mentioned he thought they might “end up working something out that’s very good for both countries.”
He repeated his declare that China had “taken advantage” and “ripped off” the US “more than anybody” for a very long time.
Meanwhile, China introduced that it might scale back the variety of American-made movies in its cinemas. It additionally mentioned that the commerce dispute had lowered curiosity in Hollywood films amongst Chinese audiences.
Currently, China permits as much as 34 US movies annually. Local films are rising in popularity.
The European Union mentioned it might pause its deliberate countermeasures towards the US for 90 days. These have been scheduled to start out on April 15.
On Wednesday, 26 out of 27 EU international locations — all besides Hungary — voted to use tariffs in response to the US 20 per cent tariff.
European Commission President Ursula von der Leyen mentioned in an announcement that the EU wished “to give negotiations a chance.”



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