Trump Tariffs Live Updates: China says US ‘goes against the whole world’ with tariff hikes
Beijing on Thursday warned that American tariffs go “against the whole world”, after US President Donald Trump said he was raising levies on China to 125 percent.
The US tariffs “seriously damage the rules-based multilateral trading system, and seriously impact the stability of the global economic order”, foreign ministry spokesman Lin Jian said, adding: “This is a blatant act that goes against the will of the world and goes against the whole world.”
China reaches out to EU, ASEAN members against US’ ‘reciprocal tariffs’
With US President Donald Trump going all out in his trade war on China by imposing 125 per cent tariff on import of Chinese goods, Beijing has reached out to the European Union (EU) and ASEAN countries to forge an united front and force the US to backtrack.
Beijing has retaliated with “countermeasures” imposing an 84 per cent tariff on US goods, which will take effect on Thursday. The 27-nation European Union bloc also hit back at Trump’s tariffs on Wednesday by approving levies of up to 25 per cent.
China and the European Union vowed to jointly uphold the multilateral trading system with the WTO at its core, China’s commerce ministry said in a statement released today as per Chinese state media.
Chinese Commerce Minister Wang Wentao and European Commissioner for Trade and Economic Security Maros Sefcovic held discussions via video on Tuesday and discussed enhancing China-EU economic and trade cooperation and responding to the “reciprocal tariffs” imposed by the US, the Ministry of Commerce (MOFCOM) said on Thursday in a statement, Xinhua reported.
The EU and China are each other’s largest trading partners.
During their talks, Wang noted that the US “reciprocal tariffs” seriously violate the legitimate interests of other countries, breach the WTO rules, undermine the rules-based multilateral trading system, and disrupt the stability of the global economic order.
India handling reciprocal tariffs issue wisely with intent to hike trade with US by 2.5 times: Piyush Goyal
Union Commerce and Industry Minister Piyush Goyal on Thursday said that India is handling the US reciprocal tariff issue wisely, with a focus to increase its trade with the US by two and half times.
Speaking to reporters in Mumbai, the Union Minister assured that India is already ahead in this race, and that discussions were making good progress.
He further said that Prime Minister Narendra Modi and President Donald Trump had decided in February to strengthen bilateral relations.
“India is handling this matter very wisely. Prime Minister Narendra Modi and President Donald Trump had decided back in February to strengthen our bilateral relations and sign a trade agreement that will make trade between India and the United States easier. This will also increase trade up to USD 500 billion, which is about two and a half times more than before,” Goyal said.
“It will create more job opportunities for the people and further strengthen the country’s economy. I believe that India was already ahead in this race, and our discussions are making good progress,” the Minister said.
Trump Tariffs Live Updates: European stock markets soar after Trump tariff pause
European stock markets rebounded sharply in early deals on Thursday after US President Donald Trump abruptly paused steep tariffs on most countries.
Frankfurt jumped more than seven percent to 21,124.44 points almost a half hour into trading, Paris gained 7.3 percent to 7,362.06 and London surged 5.3 percent to 8,089.72 following rallies on Wall Street and in Asia.
European markets had fallen around three percent on Wednesday after Trump’s punishing tariffs came into force and China retaliated with its own massive duties against US levies.
But Trump back tracked after European stock markets closed, suspending the higher tariffs against all countries except China.
The US leader, however, left a baseline 10 percent tariff intact and ramped up his trade war with Beijing by hiking tariffs against Chinese goods to 125 percent.
“While there has been understandable relief… the genie is still out of the bottle on policy unpredictability,” said a Deutsche Bank analysis.
“A 10 percent minimum universal tariff represents the largest tariff increase in decades and heightened trade uncertainty is likely to linger, with limited visibility on what kind of deals the US would find acceptable,” it said.
Trump Tariffs Live Updates: Pakistan to send delegation to the US for tariff negotiations
Pakistan will send a delegation to the United States in the coming weeks to negotiate new tariffs, the government said in an announcement before Donald Trump announced a delay to the measures.
Washington announced a 29 percent duty on Pakistani goods last week as part of a blitz against trade partners that roiled global markets.
However, the US president said late Wednesday that he would hold off their imposition for 90 days, though all countries would still face a baseline rate of 10 percent.
Prime Minister Shehbaz Sharif’s office said late Wednesday that a delegation would go to the United States.
On Thursday a source from the Ministry of Commerce, speaking on condition of anonymity, confirmed to AFP on Thursday that the visit wouf still go ahead.
“A high-level government delegation is scheduled to depart for Washington in the coming weeks to hold talks with US officials,” the source said.
According to the Office of the US Trade Representative, bilateral trade between Pakistan and the United States totalled $7.3 billion, with Washington importing $5.1 billion worth of goods from Islamabad in 2024.
Cotton and textiles are among Pakistan’s biggest exports.
Trump Tariffs Live Updates: Trump says ‘a deal’s going to be made with China’ despite ongoing standoff
US President Donald Trump expressed confidence that trade agreements would eventually be reached with all countries, including China. “A deal’s going to be made with China. A deal’s going to be made with every one of them,” he said at the White House.
However, he added that China’s leadership “don’t quite know how to go about it,” as Beijing continues to hold firm on its retaliatory tariffs against American goods.
Trump Tariffs Live Updates: ‘Meet halfway based on mutual respect’, says China to US after Trump’s 125% tariff move
Commerce Ministry spokeswoman He Yongqian said: “We hope the US will meet China halfway, and, based on the principles of mutual respect, peaceful coexistence and win-win cooperation, properly resolve differences through dialogue and consultation.”
Trump Tariffs Live Updates: China left out of Trump’s 90-day tariff pause, as EU and Japan get reprieve
Trump announced steep tariffs last week, shaking global markets. But on Wednesday, he said most countries would get a 90-day break from the new taxes.
The European Union and countries like Japan are part of this pause — but China is not.
Trump Tariffs Live Updates: India declines China’s call for unity as Russia left out of Trump’s tariff sweep
India has reportedly declined China’s call for cooperation amid the trade standoff with the United States. Meanwhile, Russia—often viewed as China’s closest geopolitical ally—has been notably left out of Trump’s sweeping tariff measure.
Trump Tariffs Live Updates: Trump’s 90-day tariff reprieve leaves China out, as Beijing says ‘fight to the end’
As the United States slaps on fresh tariffs, China is reaching out to other countries in a bid to build a united front against Washington’s economic pressure.
In response to plunging global markets, Trump announced a temporary pause on his tariffs for most countries, extending a 90-day reprieve to nations willing to negotiate better trade terms. However, China was notably excluded from this pause.
Beijing, accusing the US of insincerity, has declined fresh talks and doubled down on its resistance. “China will fight to the end,” a Commerce Ministry spokeswoman said earlier this week.
In retaliation, China imposed 84% tariffs on American goods, which came into effect on Thursday.
Trump Tariffs Live Updates: US tariffs ‘seriously damage rules-based multilateral trading system’, says China’s foreign ministry spokesman Lin Jian
Beijing on Thursday issued a sharp rebuke to Washington’s escalating trade measures, saying that the steep US tariff hikes “go against the whole world.” The criticism came after US President Donald Trump announced that levies on Chinese imports would surge to 125 per cent.
“The US tariffs seriously damage the rules-based multilateral trading system, and seriously impact the stability of the global economic order,” foreign ministry spokesman Lin Jian said during a press briefing.
“This is a blatant act that goes against the will of the world and goes against the whole world,” Lin added.
Trump Tariffs Live Updates: ‘The door to dialogue is open,’ says China’s commerce ministry spokeswoman He Yongqian
China on Thursday urged the United States to meet it “halfway” as tensions escalate in the ongoing trade war.
“The door to dialogue is open, but it must be based on mutual respect and conducted in an equal manner,” commerce ministry spokeswoman He Yongqian said at a press conference.
At the same time, China reiterated that it would “fight to the end” if a compromise proves elusive.
Trump Tariffs Live Updates: China urges US to ‘meet halfway’ in trade war, says it will ‘fight to the end’
Amid Trump’s sweeping tariffs on China, Beijing urges the US to ‘meet halfway’ in the trade war and says it will ‘fight to the end’. China also warns that the US is ‘going against the whole world’ with its tariff hikes.
Trump Tariffs Live Updates: China warns US tariffs ‘severely impact’ global economic stability
China warned the United States on Thursday that tariffs on its international trading partners would “severely impact” global economic stability. “The US has recently… announced the imposition of indiscriminate tariffs on all its trading partners, including China, which seriously infringe upon the legitimate rights and interests of Chinese companies and severely impact the stability of the global economic order,” commerce ministry spokeswoman He Yongqian told in a news conference.
Trump Tariffs Live Updates: China hits back at US tariffs, says it won’t tolerate deprivation of rights
China’s foreign ministry has responded firmly to the latest US tariffs, stating that China will not sit back and allow the legitimate rights and interests of the Chinese people to be deprived.
Trump Tariffs Live Updates: Tariffs to slow Taiwan’s GDP growth, says NDC minister
Taiwan’s economy is set to take a notable hit from newly imposed US tariffs, with government officials warning of a sharp reduction in the country’s GDP growth for 2025, Taipei Times reported.
National Development Council (NDC) Minister Paul Liu told lawmakers on Tuesday that based on preliminary assessments by a private research institute, the tariffs could lead to a drop in GDP growth ranging between 0.43 and 1.61 percentage points.
The 32 per cent reciprocal tariffs, which officially took effect yesterday, are expected to significantly impact Taiwan’s economic momentum. Liu noted that the tariffs could push Taiwan’s GDP growth below the previously forecast 3 per cent, and possibly even down to 1.53 per cent.
These projections come in contrast to the 3.14 per cent growth estimate released in February by the Directorate-General of Budget, Accounting and Statistics. To better understand the full implications, Liu said the council has commissioned another institution for additional analysis of both short- and long-term effects.
Trump Tariffs Live Updates: Trump signs order to ‘make America’s showers great again’
US President Donald Trump has signed an executive order lifting water-pressure restrictions on showerheads, a move the White House said would “make America’s showers great again”.
Trump has long complained about inadequate water pressure in American bathrooms which he blames on federal water-conservation regulations.
“In my case I like to take a nice shower, to take care of my beautiful hair,” Trump told reporters as he signed the order in the Oval Office on Wednesday.
“I have to stand under the shower for 15 minutes till it gets wet. It comes out drip, drip, drip. It’s ridiculous.”
The order directs the Energy Department to roll back “radical green” regulations limiting the flow of showerheads to 2.5 gallons of water per minute.
The White House said the order “frees Americans from excessive regulations that turned a basic household item into a bureaucratic nightmare” and ends the “Obama-Biden war on showers”.
Trump has targeted water-pressure standards for showerheads, toilets, dishwashers and other household appliances, since his first term.
Taiwan stocks close up record 9.3% on Trump’s tariff pause
Taiwan stocks closed up a record 9.3 percent on Thursday after US President Donald Trump paused tariffs on most countries.
The Taiex index rose 1,608.27 to 19,000.03, as tech giants TSMC and Foxconn soared almost 10 percent each.
China reaches out to others as Trump layers on tariffs
China is reaching out to other nations as the US layers on more tariffs, in what appears to be an attempt by Beijing to form a united front to compel Washington to retreat. Days into the effort, it’s meeting only partial success from countries unwilling to ally with the main target of President Donald Trump’s trade war.
Facing the cratering of global markets, Trump on Wednesday backed off his tariffs on most nations for 90 days, saying countries were lining up to negotiate more favorable conditions.
China has refused to seek talks, saying the US was insincere and that it will “fight to the end” in a tariff war, prompting Trump to further jack up the tax rate on Chinese imports to 125%. China has retaliated with tariffs on US goods of 84%, which took effect Thursday.
Trump’s move was seemingly an attempt to narrow what had been an unprecedented trade war between the U.S. and most of the world to a showdown between the US and China.
China has thus far focused on Europe, with a phone call between Premier Li Qiang and European Commission President Ursula von der Leyen “sending a positive message to the outside world.” The two are each other’s largest trading partners.
“China is willing to work with the EU to jointly implement the important consensus reached by the leaders of China and the EU, strengthen communication and exchanges, and deepen China-EU trade, investment and industrial cooperation,” the official Xinhua News Agency reported.
That was followed by a video conference between Chinese Commerce Minister Wang Wentao and EU Commissioner for Trade and Economic Security Šefčović on Tuesday to discuss the US “reciprocal tariffs.”
Wang said the tariffs “seriously infringe upon the legitimate interests of all countries, seriously violate WTO rules, seriously damage the rules-based multilateral trading system, and seriously impact the stability of the global economic order,” Xinhua said.
“It is a typical act of unilateralism, protectionism and economic bullying,” Wang said quoted as saying.
Trump Tariffs Live Updates: ‘Relief for exporters,’ Indian official reacts to 90-day pause on US tariffs
India is keen to fast-track a trade agreement with the United States following President Donald Trump’s surprise decision to pause tough new tariffs on most countries, including India, a government official said on Thursday.
“The 90-day pause on reciprocal tariffs is a relief for Indian exporters, especially shrimp exporters,” an Indian official told Reuters, requesting anonymity.