{"id":132590,"date":"2025-04-05T16:50:40","date_gmt":"2025-04-05T16:50:40","guid":{"rendered":"https:\/\/quixnet.net\/wpinstance\/jaguar-land-rover-pauses-shipments-to-us-as-trump-says-impact-of-tariffs-wont-be-easy-live-the-guardian\/"},"modified":"2025-04-05T16:50:40","modified_gmt":"2025-04-05T16:50:40","slug":"jaguar-land-rover-pauses-shipments-to-us-as-trump-says-impact-of-tariffs-wont-be-easy-live-the-guardian","status":"publish","type":"post","link":"https:\/\/quixnet.net\/wpinstance\/jaguar-land-rover-pauses-shipments-to-us-as-trump-says-impact-of-tariffs-wont-be-easy-live-the-guardian\/","title":{"rendered":"Jaguar Land Rover pauses shipments to US as Trump says impact of tariffs \u2018won\u2019t be easy\u2019 \u2013 live &#8211; The Guardian"},"content":{"rendered":"<p>Trump\u2019s baseline 10% tariff on all imports from many countries has begun, with higher levies on 57 trading partners to start next week<br \/>Here is a summary of the latest developments so far:<br \/><strong>Donald Trump on Saturday doubled down on the sweeping tariffs he unleashed on countries around the world, warning Americans of pain ahead, but promising historic investment and prosperity. <\/strong>\u201cWe have been the dumb and helpless \u2018whipping post\u2019, but not any longer. We are bringing back jobs and businesses like never before,\u201d Trump wrote on his Truth Social platform. \u201cThis is an economic revolution, and we will win,\u201d he added. \u201cHang tough, it won\u2019t be easy, but the end result will be historic.\u201d<br \/><strong>Trump\u2019s 10% tariff on UK products came into force on Saturday, as global stock markets continued to fall in response to the imposition of import taxes. <\/strong>The FTSE 100 plummeted on Friday in its worst day of trading since the start of the pandemic, while markets on Wall Street also tumbled. <a href=\"https:\/\/www.theguardian.com\/australia-news\/2025\/apr\/03\/donald-trump-hits-australian-exporters-with-10-tariffs-in-liberation-day-speech\" data-link-name=\"in body link\">Australia<\/a>, Colombia, Argentina, Egypt and Saudi Arabia are also among the countries first hit with the 10% tariff.<br \/><strong>The initial 10% \u201cbaseline\u201d tariff took effect at US seaports, airports and customs warehouses at 12.01am ET (0401 GMT)<\/strong>. Many other countries will see their tariff rates increase above that next week \u2013 including the EU, which will be hit with a 20% rate. A 25% tariff imposed on all foreign cars imported into the US came into effect on Thursday.<br \/><strong>Jaguar Land Rover (JLR) has confirmed it will \u201cpause\u201d shipments to the US<\/strong> <strong>in April<\/strong> as it works to \u201caddress the new trading terms\u201d of Donald Trump\u2019s tariffs.<br \/><strong>The UK prime minister, Keir Starmer, is expected to spend the weekend speaking to foreign leaders about the tariffs<\/strong>, after calls with the prime ministers of Australia and Italy on Friday in which the leaders agreed that a trade war would be \u201cextremely damaging\u201d.<br \/><strong>Downing Street said that Starmer had \u201cbeen clear the UK\u2019s response will be guided by the national interest\u201d.<\/strong> A spokesperson said officials will \u201ccalmly continue with our preparatory work, rather than rush to retaliate\u201d.<br \/><strong>Ralph Goodale, the high commissioner for Canada in the UK<\/strong><strong>, told the BBC\u2019s Radio 4 Today programme on Saturday that \u201caction taken by the US government is completely illogical\u201d.<\/strong> He added: \u201cIt will damage the United States itself.\u201d<br \/><strong>The <\/strong><strong>Italian economy minister, Giancarlo Giorgetti<\/strong><strong>, warned on Saturday against the imposition of retaliatory tariffs on the US<\/strong> in response to Trump\u2019s announcement of sweeping tariffs on trade partners. Speaking at a business forum near Milan, Giorgetti said Italy was aiming for a \u201cde-escalation\u201d with the US. \u201cWe should avoid launching a policy of counter-tariffs that could be damaging for everyone and especially for us,\u201d Giorgetti said.<br \/><strong>The stock market plunge has more to do with the emergence this year of China\u2019s DeepSeek artificial intelligence tool than with Trump\u2019s policies, the US treasury secretary, Scott Bessent, said in an interview released on Friday<\/strong> that signalled little concern about the ongoing nosedive. \u201cFor everyone who thinks these market declines are all based on the president\u2019s economic policies, I can tell you that this market decline started with the Chinese AI announcement of DeepSeek,\u201d Bessent told former Fox News host Tucker Carlson.<br \/><strong>Bangladesh\u2019s interim leader called an emergency meeting on Saturday after textile leaders in the world\u2019s second-largest garment manufacturing nation said US tariffs were a \u201cmassive blow\u201d to the key industry. <\/strong>Trump on Wednesday slapped punishing new tariffs of 37 % on Bangladesh, increasing duties from the previous 16% on cotton and 32% on polyester products.<br \/><strong>The Israeli prime minister, Benjamin Netanyahu, is expected to visit the White House on Monday to discuss recently announced tariffs with Trump, three Israeli officials said on Saturday. <\/strong>As part of a sweeping new tariff policy announced by Trump, unspecified Israeli goods exports to the US face a 17% tariff.<br \/><strong>China has taken and will continue to take resolute measures to safeguard its sovereignty, security and development interests, the foreign ministry said on Saturday,<\/strong> citing a Chinese government stance on opposing US tariffs. The US should \u201cstop using tariffs as a weapon to suppress China\u2019s economy and trade, and stop undermining the legitimate development rights of the Chinese people\u201d, the ministry said.<br \/><strong>Nissan Motor is considering shifting some domestic production of US-bound vehicles to the US, the Nikkei reported on Saturday. <\/strong>As early as this summer, Nissan plans to reduce production at its Fukuoka factory in western Japan and shift some manufacturing of its Rogue SUV to the US to mitigate the impact of Trump\u2019s tariffs, the business newspaper said, without citing the source of its information.<br \/><strong>The president of Taiwan,<\/strong><strong> Lai Ching-te, met tech executives on Saturday to discuss how to respond to new US tariffs, promising to ensure Taiwan\u2019s global competitiveness and safeguard its interests. <\/strong>Lai met the executives at his official residence to discuss the response to \u201cthe global economic and trade challenges brought about by the reciprocal tariff policy\u201d, his spokesperson Karen Kuo said in a statement. She did not say which companies were present, only that there were several representatives from the information and communications technology, or ICT, industry.<br \/><strong>\u201cToday, America is not only humiliating Iran, but also the world,\u201d the Iranian president, Masoud Pezeshkian, said on Saturday, in an apparent reference to recent policies adopted by Trump, including imposing tariffs on imported goods. <\/strong>Pezeshkian said his country was willing to engage in dialogue with the US as equals, without clarifying whether Tehran would participate in direct talks.<br \/><strong>China has said \u201cthe market has spoken\u201d in rejecting Trump\u2019s tariffs, and called on Washington for \u201cequal-footed consultation\u201d after global markets plunged in reaction to the trade levies that drew Chinese retaliation. <\/strong>Trump introduced additional 34% tariffs on Chinese goods as part of steep levies imposed on most US trade partners, bringing the total duties on China this year to 54%.<br \/><strong>Away from tariff news, left-leaning organisations in the US say that more than 500,000 people are expected to take to the streets to protest in Washington DC, Florida and elsewhere around the country on Saturday to oppose Donald Trump\u2019s \u201cauthoritarian overreach and billionaire-backed agenda\u201d. <\/strong>MoveOn, one of the organisations planning the day of protest they\u2019re calling Hands Off along with <a href=\"https:\/\/handsoff2025.com\/about-1\" data-link-name=\"in body link\">dozens<\/a> of labour, environmental and other progressive groups, said that more than 1,000 protests are planned across the US, including at state capitols.<br \/>Israel\u2019s prime minister Benjamin Netanyahu is expected to visit the White House on Monday to discuss recently announced tariffs with U.S. president <a href=\"https:\/\/www.theguardian.com\/us-news\/donaldtrump\" data-link-name=\"in body link\" data-component=\"auto-linked-tag\">Donald Trump<\/a>, Reuters reports.<br \/>The impromptu in-person visit could mark the first by a foreign leader to meet with Trump and try to negotiate a deal to remove tariffs.<br \/>Netanyahu\u2019s office has not confirmed the visit, that would also include discussions on Turkey\u2019s growing influence in neighbouring Syria, Iran and Israel\u2019s war against Palestinian militant group Hamas in Gaza, one of the officials said.<br \/>The visit was first reported by Axios.<br \/>Among the protesters in London was Clarke Reinstein, 73, from Rhode Island, who told the PA news agency he was \u201cdisappointed in my fellow Americans\u201d over the election of <a href=\"https:\/\/www.theguardian.com\/us-news\/donaldtrump\" data-link-name=\"in body link\" data-component=\"auto-linked-tag\">Donald Trump<\/a>.<br \/>\u201cI\u2019ve been in London for two months and I like being over here because people think a little differently,\u201d he said<br \/>\u201cThey made a mistake over Brexit \u2013 but they didn\u2019t fall over like the Americans have.\u201d<br \/>A 37-year-old woman from Philadelphia was draped in the American flag that had been presented to her Second World War veteran grandfather.<br \/>The woman, who did not wish to be named, told PA she was protesting because of the \u201cabsolute, mind-blowing insipidness\u201d of Trump\u2019s presidency.<br \/>\u201cI don\u2019t want to alienate the rest of the world,\u201d she said.<br \/>\u201cIt\u2019s not going to be useful for anyone in the long run. I felt powerless and I needed to come out and say something.<br \/>\u201cI have friends in the United States who are marching in protest, and I wanted to march with them in solidarity.\u201d<br \/>Brent Robertson, 56, from Albuquerque, criticised Trump\u2019s tariffs.<br \/>Robertson said: \u201cStupid is not the word.<br \/>\u201cHe is shooting himself and all of us as Americans, just so he can make himself look like a tough guy.\u201d<br \/>Some 1,200 demonstrations are planned across the US on Saturday in what organisers expect to be the largest single day of protest against president <a href=\"https:\/\/www.theguardian.com\/us-news\/donaldtrump\" data-link-name=\"in body link\" data-component=\"auto-linked-tag\">Donald Trump<\/a> and his billionaire ally Elon Musk since they launched a rapid-fire effort to overhaul government and expand presidential authority.<br \/>Thousands were streaming into downtown Washington DC as the protests got underway. Organisers told Reuters that more than 20,000 people were expected to attend the rally at the National Mall.<br \/>The protests in the US will give Trump opponents an opportunity to demonstrate their displeasure en masse in response to Trump\u2019s raft of executive orders.<br \/>Some 150 activist groups have signed up to participate, according to the event\u2019s website. Protests are planned in all 50 states, as well as Canada, Mexico and the UK.<br \/>Protesters were lining Connecticut Avenue in Washington DC, awaiting buses to take them downtown. They were carrying signs with slogans such as \u201cNo Kings in the USA\u201d and \u201cDeport Musk\u201d.<br \/>Terry Klein, a retired biomedical scientist from Princeton, New Jersey, was among hundreds who gathered early in front of the stage below the Washington Monument.<br \/>She said she drove down to attend the rally to protest Trump\u2019s policies on \u201ceverything from immigration to the DOGE stuff to the tariffs this week, to education\u201d.<br \/>\u201cI mean, our whole country is under attack, all of our institutions, all the things that make America what it is,\u201d she added.<br \/>David Madden, a 75-year-old army veteran and retired trial lawyer, said he flew from Dayton, Ohio, to demonstrate against \u201cthe injustice that is dominating this country, the institutions that are being stolen from the American people, the confusion in the courts, the fact that we have a population that I believe is essentially racist\u201d.<br \/>Donald Trump\u2019s sweeping tariffs are roiling global financial markets, with stocks tumbling across the board from New York to London.<br \/>Wall Street suffered its worst week since the onset of the Covid-19 crisis five years ago as investors worldwide balked at the US president\u2019s risky bid to overhaul the global economy with the vast tariffs.<br \/>Experts are all but unanimous that the impact on global growth of Wednesday\u2019s extraordinary Rose Garden press conference will be negative \u2013 but just how bad remains highly uncertain.<br \/>Jaguar Land Rover (JLR) will pause shipments of its UK-made cars to the US for a month as it considers how to mitigate the cost of Donald Trump\u2019s tariffs.<br \/>The 25% tariff imposed by the US on imported cars and light trucks took effect on 3 April.<br \/>A JLR spokesperson said: \u201cThe USA is an important market for JLR\u2019s luxury brands. As we work to address the new trading terms with our business partners, we are enacting our short-term actions including a shipment pause in April, as we develop our mid to longer-term plans.\u201d<br \/>JLR, which is owned by India\u2019s Tata Motors, is one of Britain\u2019s biggest producers, selling 400,000 Range Rover Sports, Defenders and other models annually.<br \/>Exports to the US account for almost a quarter of those sales and JLR is at the centre of Britain\u2019s car industry, accounting for \u00a31 in every \u00a38 of the country\u2019s exports.<br \/>The Sunday Times reported that JLR is thought to have a couple of months\u2019 supply of cars already in the US, which will not be subject to the new tariffs. Shipping vehicles across the Atlantic takes about 21 days.<br \/>Hundreds of protesters gathered in central London as part of global demonstrations against Donald Trump\u2019s administration.<br \/>Crowds gathered in Trafalgar Square on Saturday afternoon with banners that read \u201cNo to Maga hate\u201d and \u201cDump Trump\u201d.<br \/>The rally is one of hundreds of so-called \u201chands off\u201d demonstrations around the world \u2013 including in cities across the US, Paris and Berlin.<br \/>The movement has been organised by more than 150 groups, including civil rights groups and trade unions.<br \/>A 25% levy on all foreign cars imported into America came into force on Thursday, and a <a href=\"https:\/\/www.theguardian.com\/politics\/2025\/apr\/02\/trump-hits-uk-with-10-tariffs-as-he-ignites-global-trade-war\" data-link-name=\"in body link\">wider \u201cbaseline\u201d 10% tariff on goods imported<\/a> from around the world kicked in on Saturday morning.<br \/><strong>Keir Starmer and Emmanuel Macron discussed their \u201cconcerns about the global economic and security impact, particularly in South East Asia\u201d in the wake of Donald Trump\u2019s tariffs, Starmer\u2019s office said.<\/strong><br \/>The UK\u2019s prime minister spoke to the French president on Saturday, the latest in a series of calls with world leaders<a href=\"https:\/\/www.theguardian.com\/us-news\/2025\/apr\/05\/trump-tariffs-come-into-effect-in-seismic-shift-to-global-trade\" data-link-name=\"in body link\"> following the announcement of the US levies<\/a>.<br \/>Issuing a readout of the call, a Downing Street spokesperson said: \u201cThe prime minister spoke with President Macron following this week\u2019s announcement that the US will impose additional tariffs. They agreed that a trade war was in nobody\u2019s interests but nothing should be off the table and that it was important to keep business updated on developments.<br \/>\u201cThe prime minister and president also shared their concerns about the global economic and security impact, particularly in South East Asia.<br \/>\u201cFollowing discussions between military planners in Ukraine this week, they discussed the good progress that has been made on the Coalition of the Willing.<br \/>\u201cThe prime minister and president agreed to stay in close contact over the coming weeks.\u201d<br \/>Here is a summary of the latest developments so far:<br \/><strong>Donald Trump on Saturday doubled down on the sweeping tariffs he unleashed on countries around the world, warning Americans of pain ahead, but promising historic investment and prosperity. <\/strong>\u201cWe have been the dumb and helpless \u2018whipping post\u2019, but not any longer. We are bringing back jobs and businesses like never before,\u201d Trump wrote on his Truth Social platform. \u201cThis is an economic revolution, and we will win,\u201d he added. \u201cHang tough, it won\u2019t be easy, but the end result will be historic.\u201d<br \/><strong>Trump\u2019s 10% tariff on UK products came into force on Saturday, as global stock markets continued to fall in response to the imposition of import taxes. <\/strong>The FTSE 100 plummeted on Friday in its worst day of trading since the start of the pandemic, while markets on Wall Street also tumbled. <a href=\"https:\/\/www.theguardian.com\/australia-news\/2025\/apr\/03\/donald-trump-hits-australian-exporters-with-10-tariffs-in-liberation-day-speech\" data-link-name=\"in body link\">Australia<\/a>, Colombia, Argentina, Egypt and Saudi Arabia are also among the countries first hit with the 10% tariff.<br \/><strong>The initial 10% \u201cbaseline\u201d tariff took effect at US seaports, airports and customs warehouses at 12.01am ET (0401 GMT)<\/strong>. Many other countries will see their tariff rates increase above that next week \u2013 including the EU, which will be hit with a 20% rate. A 25% tariff imposed on all foreign cars imported into the US came into effect on Thursday.<br \/><strong>Jaguar Land Rover (JLR) has confirmed it will \u201cpause\u201d shipments to the US<\/strong> <strong>in April<\/strong> as it works to \u201caddress the new trading terms\u201d of Donald Trump\u2019s tariffs.<br \/><strong>The UK prime minister, Keir Starmer, is expected to spend the weekend speaking to foreign leaders about the tariffs<\/strong>, after calls with the prime ministers of Australia and Italy on Friday in which the leaders agreed that a trade war would be \u201cextremely damaging\u201d.<br \/><strong>Downing Street said that Starmer had \u201cbeen clear the UK\u2019s response will be guided by the national interest\u201d.<\/strong> A spokesperson said officials will \u201ccalmly continue with our preparatory work, rather than rush to retaliate\u201d.<br \/><strong>Ralph Goodale, the high commissioner for Canada in the UK<\/strong><strong>, told the BBC\u2019s Radio 4 Today programme on Saturday that \u201caction taken by the US government is completely illogical\u201d.<\/strong> He added: \u201cIt will damage the United States itself.\u201d<br \/><strong>The <\/strong><strong>Italian economy minister, Giancarlo Giorgetti<\/strong><strong>, warned on Saturday against the imposition of retaliatory tariffs on the US<\/strong> in response to Trump\u2019s announcement of sweeping tariffs on trade partners. Speaking at a business forum near Milan, Giorgetti said Italy was aiming for a \u201cde-escalation\u201d with the US. \u201cWe should avoid launching a policy of counter-tariffs that could be damaging for everyone and especially for us,\u201d Giorgetti said.<br \/><strong>The stock market plunge has more to do with the emergence this year of China\u2019s DeepSeek artificial intelligence tool than with Trump\u2019s policies, the US treasury secretary, Scott Bessent, said in an interview released on Friday<\/strong> that signalled little concern about the ongoing nosedive. \u201cFor everyone who thinks these market declines are all based on the president\u2019s economic policies, I can tell you that this market decline started with the Chinese AI announcement of DeepSeek,\u201d Bessent told former Fox News host Tucker Carlson.<br \/><strong>Bangladesh\u2019s interim leader called an emergency meeting on Saturday after textile leaders in the world\u2019s second-largest garment manufacturing nation said US tariffs were a \u201cmassive blow\u201d to the key industry. <\/strong>Trump on Wednesday slapped punishing new tariffs of 37 % on Bangladesh, increasing duties from the previous 16% on cotton and 32% on polyester products.<br \/><strong>The Israeli prime minister, Benjamin Netanyahu, is expected to visit the White House on Monday to discuss recently announced tariffs with Trump, three Israeli officials said on Saturday. <\/strong>As part of a sweeping new tariff policy announced by Trump, unspecified Israeli goods exports to the US face a 17% tariff.<br \/><strong>China has taken and will continue to take resolute measures to safeguard its sovereignty, security and development interests, the foreign ministry said on Saturday,<\/strong> citing a Chinese government stance on opposing US tariffs. The US should \u201cstop using tariffs as a weapon to suppress China\u2019s economy and trade, and stop undermining the legitimate development rights of the Chinese people\u201d, the ministry said.<br \/><strong>Nissan Motor is considering shifting some domestic production of US-bound vehicles to the US, the Nikkei reported on Saturday. <\/strong>As early as this summer, Nissan plans to reduce production at its Fukuoka factory in western Japan and shift some manufacturing of its Rogue SUV to the US to mitigate the impact of Trump\u2019s tariffs, the business newspaper said, without citing the source of its information.<br \/><strong>The president of Taiwan,<\/strong><strong> Lai Ching-te, met tech executives on Saturday to discuss how to respond to new US tariffs, promising to ensure Taiwan\u2019s global competitiveness and safeguard its interests. <\/strong>Lai met the executives at his official residence to discuss the response to \u201cthe global economic and trade challenges brought about by the reciprocal tariff policy\u201d, his spokesperson Karen Kuo said in a statement. She did not say which companies were present, only that there were several representatives from the information and communications technology, or ICT, industry.<br \/><strong>\u201cToday, America is not only humiliating Iran, but also the world,\u201d the Iranian president, Masoud Pezeshkian, said on Saturday, in an apparent reference to recent policies adopted by Trump, including imposing tariffs on imported goods. <\/strong>Pezeshkian said his country was willing to engage in dialogue with the US as equals, without clarifying whether Tehran would participate in direct talks.<br \/><strong>China has said \u201cthe market has spoken\u201d in rejecting Trump\u2019s tariffs, and called on Washington for \u201cequal-footed consultation\u201d after global markets plunged in reaction to the trade levies that drew Chinese retaliation. <\/strong>Trump introduced additional 34% tariffs on Chinese goods as part of steep levies imposed on most US trade partners, bringing the total duties on China this year to 54%.<br \/><strong>Away from tariff news, left-leaning organisations in the US say that more than 500,000 people are expected to take to the streets to protest in Washington DC, Florida and elsewhere around the country on Saturday to oppose Donald Trump\u2019s \u201cauthoritarian overreach and billionaire-backed agenda\u201d. <\/strong>MoveOn, one of the organisations planning the day of protest they\u2019re calling Hands Off along with <a href=\"https:\/\/handsoff2025.com\/about-1\" data-link-name=\"in body link\">dozens<\/a> of labour, environmental and other progressive groups, said that more than 1,000 protests are planned across the US, including at state capitols.<br \/>The stock market plunge has more to do with the emergence this year of <strong>China<\/strong>\u2019s <strong>DeepSeek<\/strong> artificial intelligence tool than with <strong>Donald Trump<\/strong>\u2019s policies, the US treasury secretary, <strong>Scott Bessent<\/strong>, said in an interview released on Friday that signaled little concern about the ongoing nosedive, reports Reuters.<br \/>\u201cFor everyone who thinks these market declines are all based on the president\u2019s economic policies, I can tell you that this market decline started with the Chinese AI announcement of DeepSeek,\u201d Bessent told former Fox News host <strong>Tucker Carlson<\/strong>.<br \/>\u201cIf I were to analyse in my old hat, and this is the only time I\u2019m going to talk about it \u2026 what\u2019s happening with the market I\u2019d say it\u2019s more a Mag 7 problem, not a Maga problem,\u201d Bessent, who ran a hedge fund until being tapped as treasury secretary by Trump, said.<br \/>\u201cMag 7\u201d refers to the shares of the \u201cMagnificent 7\u201d \u2013 a group of seven high-performing tech stocks that had helped drive the market higher before its recent selloff. Maga refers to Trump\u2019s \u201cMake America great again\u201d political slogan.<br \/>US stocks have tumbled by about 10% in the two days after Trump announced a new global tariff regime that was more aggressive than analysts and investors had been anticipating.<br \/>It is a drop that market analysts and large investors themselves have laid at the feet of Trump\u2019s aggressive push on tariffs, which most economists and the head of the <strong>Federal Reserve<\/strong> believe risk stoking inflation and damaging economic growth, reports Reuters.<br \/>Stocks did take a hit in late January when Chinese startup DeepSeek launched a free AI assistant that it says uses less data at a fraction of the cost of incumbent services. It resulted in a record one-day loss of nearly $600bn in value from the shares of AI chipmaker <strong>Nvidia<\/strong>, one of the \u201cMagnificent 7\u201d. But the market soon found its footing again and by mid-February, the benchmark <strong>S&amp;P 500<\/strong> index had regained a record-high level.<br \/>Then stocks turned south again starting in late February after a widely followed survey of consumers showed households growing broadly pessimistic about the economy\u2019s prospects and fearful that Trump\u2019s push for tariffs would drive up inflation, reports Reuters.<br \/>A raft of other surveys of businesses and consumers since then have flagged similar concerns, and other data has shown the pace of activity has slowed over the course of the first quarter of 2025. The S&amp;P has lost nearly 14% since 19 February, and nearly $10tn of US stock market value has been erased.<br \/>The US commerce secretary, <strong>Howard Lutnick<\/strong>, has been dismissive of the drop as well.<br \/>Trump himself on Friday retweeted a social media post bearing the caption \u201cTrump is Purposely CRASHING The Market\u201d and featuring images of the president pointing at a large downward red arrow and of him signing executive orders at the <strong>White House<\/strong>.<br \/>Meanwhile, Bessent also told Carlson the administration retains a \u201cstrong dollar\u201d policy and dismissed assertions by some analysts that the tariff drive was a deliberate effort to weaken the dollar to make US goods more competitive on global markets.<br \/>\u201cNo one should listen to anyone in the markets talk about the US dollar other than President Trump or myself,\u201d Bessent said. \u201cWe are the only ones that speak for this administration, the United States government on dollar policy.\u201d<br \/>\u201cWe have a strong-dollar policy and we are putting in all of the necessary ingredients to make sure the dollar is strong over the long run,\u201d he said.<br \/>The dollar has shed nearly 6% of its value against major trading partners\u2019 currencies since Trump\u2019s inauguration on 20 January, reports Reuters.<br \/><strong>Donald Trump<\/strong> on Saturday doubled down on the sweeping tariffs he unleashed on countries around the world, warning Americans of pain ahead, but promising historic investment and prosperity.<br \/>The comments came as the US president\u2019s widest-ranging tariffs took effect in a move that could trigger retaliation and escalating trade tensions that could upset the global economy.<br \/>\u201cWe have been the dumb and helpless \u2018whipping post,\u2019 but not any longer. We are bringing back jobs and businesses like never before,\u201d Trump wrote on his Truth Social platform, Agence France-Presse (AFP) reports.<br \/>\u201cThis is an economic revolution, and we will win,\u201d he added. \u201cHang tough, it won\u2019t be easy, but the end result will be historic.\u201d<br \/>A 10% \u201cbaseline\u201d tariff came into place just after midnight, hitting most US imports except goods from <strong>Mexico<\/strong> and <strong>Canada<\/strong> as Trump invoked emergency economic powers to address perceived problems with the country\u2019s trade deficits.<br \/>The trade gaps, said the <strong>White House<\/strong>, were driven by an \u201cabsence of reciprocity\u201d in relationships and other policies like \u201cexorbitant value-added taxes\u201d.<br \/>Come 9 April, about 60 trading partners \u2013 including the <strong>European Union<\/strong>, <strong>Japan<\/strong> and <strong>China<\/strong> \u2013 are to face even higher rates tailored to each economy.<br \/>Already, Trump\u2019s sharp 34%tariff on Chinese goods, to kick in next week, triggered <strong>Beijing<\/strong>\u2019s announcement of its own 34% tariff on US products from 10 April.<br \/>Beijing also said it would sue the US at the <strong>World Trade Organization (WTO)<\/strong> and restrict the export of rare-earth elements used in high-end medical and electronics technology.<br \/>\u201cChina has been hit much harder than the USA, not even close,\u201d Trump said in his post. \u201cThey, and many other nations, have treated us unsustainably badly.\u201d<br \/>But other major trading partners held back as they digested the unfolding international standoff amid fears of a recession.<br \/>On the topic of garments and <strong>Donald Trump<\/strong>\u2019s tariffs, my colleague, the Guardian\u2019s deputy fashion and lifestyle editor, <strong><a href=\"https:\/\/www.theguardian.com\/profile\/chloe-mac-donnell\" data-link-name=\"in body link\">Chloe Mac Donnell<\/a><\/strong>, has written about how from farmers to designers, the entire fashion supply chain will be hit. It is unclear what duties apply to a finished product, she writes in this piece:<\/p>\n<p><a href=\"https:\/\/news.google.com\/rss\/articles\/CBMirgFBVV95cUxPRnJXOXRXNGo3LVpkcV90RkNqekZkSDcteGJtYU5Id0Zjd1FUYms2UnZtUHJZSXlXQXVvSFQ5ZHV5R0NhWXl4Q1NyM29KYlNURnpUOVFmY09XNFF4MmtGT044TTZ3TC1KWENwVk4ydG9BenJZejAwWHZVbnBsXzBJSVpjTmdHak4tM1NyLU1LR0xyR3FCN05MWVFJb2hWYzR1c19PXzU1YldZcmJKNmc?oc=5\">source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trump\u2019s baseline 10% tariff on all imports from many countries has begun, with higher levies on 57 trading partners to start next weekHere is a summary of the latest developments so far:Donald Trump on Saturday doubled down on the sweeping tariffs he unleashed on countries around the world, warning Americans of pain ahead, but promising [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":132591,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-132590","post","type-post","status-publish","format-standard","has-post-thumbnail","category-world","entry"],"_links":{"self":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/132590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/comments?post=132590"}],"version-history":[{"count":0,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/132590\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media\/132591"}],"wp:attachment":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media?parent=132590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/categories?post=132590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/tags?post=132590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}