{"id":133231,"date":"2025-04-10T22:07:06","date_gmt":"2025-04-10T22:07:06","guid":{"rendered":"https:\/\/quixnet.net\/wpinstance\/tariffs-latest-trump-admits-cost-to-tariffs-but-says-everything-will-be-beautiful-in-the-end-after-90-day-pause-sky-news\/"},"modified":"2025-04-10T22:07:06","modified_gmt":"2025-04-10T22:07:06","slug":"tariffs-latest-trump-admits-cost-to-tariffs-but-says-everything-will-be-beautiful-in-the-end-after-90-day-pause-sky-news","status":"publish","type":"post","link":"https:\/\/quixnet.net\/wpinstance\/tariffs-latest-trump-admits-cost-to-tariffs-but-says-everything-will-be-beautiful-in-the-end-after-90-day-pause-sky-news\/","title":{"rendered":"Tariffs latest: Trump admits 'cost' to tariffs – but says 'everything will be beautiful in the end' after 90-day pause – Sky News"},"content":{"rendered":"

Donald Trump has admitted there are “transition costs” as a result of his tariffs and suggested he’d “love” a deal with China – despite ramping up trade barriers with Beijing. Meanwhile, US markets continue to struggle. Listen to the latest episode of the Trump 100 podcast as you scroll.
Thursday 10 April 2025 22:18, UK
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Our US correspondents are back tomorrow at 4pm to answer your questions in their regular Q&A edition of the Trump 100 podcast.
Submit your question on anything Trump-related in the box at the top of the page.
We’ll be back tomorrow with more of the latest reaction and fallout to Donald Trump’s tariffs and the global trade wars being sparked as a result.
Before then, here’s a rundown of what’s been happening today:
If you’d like to read more in depth analysis on Trump’s tariffs from our team of experts, you can here:
Stock markets have been on quite the journey since Donald Trump was inaugurated for a second time as US president in January.
After unveiling his “Liberation Day” tariffs at the start of April, the main US indices have shredded trillions of dollars in value.
The turmoil also spread to the bond markets. Here’s business and economics correspondent Gurpreet Narwan<\/a> to explain how the markets responded to Trump’s tariffs.
All three major US stock indexes have suffered steep losses on the first full day since Donald Trump introduced a 90-day tariff pause for countries other than China.
It comes after all three key indexes were considerably up when the New York Stock Exchange closed last night – hours after the pause was announced.
On Wednesday:
The tumbling US stocks suggest the escalating US-China trade war has dampened optimism over upbeat economic data and US-Europe trade negotiations.
A helicopter has crashed in the Hudson River near Manhattan, the New York Police Department has said.
It is not yet known if there are any injuries or fatalities.
Follow the latest from this breaking story by clicking the link below.
We’ve heard plenty of companions over the last week between Donald Trump’s tariffs and the short, 49-day premiership of Liz Truss, former British prime minister.
Truss’s infamous mini-budget of 2022 was met by a meltdown in the bond markets, followed by an increase in state borrowing costs and a rise in mortgage rates. She was out on her ear soon after.
Trump’s tariffs have caused similar economic chaos, leading the president to pause the majority of them after a Truss-style fire sale in the bond markets.
Tonight, Kwasi Kwarteng, Truss’s former chancellor, said he believes comparisons between Trump and Truss are completely fair.
He told Ali Fortescue<\/a>: “I think [Trump’s] gone full maximal in the way that we did, and what he’s trying to do is essentially reshape the world order, and he has taken the view… to just do everything at once, to create maximum disruption.”
“And now he’s rowed back.”
By Lauren Russell<\/a>, news reporter<\/b>
Egg prices in the US have reached a record-high.
The average price for a dozen eggs reached $6.23 (\u00a34.82) in March, despite a drop in wholesale prices and no egg farms having outbreaks of bird flu.
The country has been experiencing record-high prices since the beginning of the year, hitting $5.90 in February, according to the US Bureau of Labor Statistics, more than double the long-term average of $2 (\u00a31.54).
Here’s everything you need to know about how America has been scrambling for eggs, and why.
Nouriel Roubini, the economist better known as Dr Doom, says he expects the trade war between the US and China to get worse before it gets better.
The policy expert, who in 2006 correctly predicted the financial crisis, spoke at the Delphi Economic Forum in Greece hours after Trump pressed the pause button on his trade war with everyone except Beijing.
“I fear that even if they sit down and try to negotiate… with China it’s a bigger mess and mostly likely, for now, we are escalating rather than de-escalating,” he said.
Roubini added that China is worried the US “is out to destroy it” both economically and militarily.
“Therefore,” he adds, “for the time being this game of chicken between the US and China is going to continue, the question is, who is going to blink, whether they can sit down and find a grand bargain.”
Despite this, Roubini said he still thought a US recession was avoidable.
“They call me Dr Doom, but I’ve always been a contrarian. Wall Street has been predicting a recession, but I actually think it is avoidable. I might as well be Dr Boom.”
Sir Keir Starmer has warned the challenge posed by Donald Trump’s tariffs has “not gone away” despite the president announcing a 90-day pause on the higher rates.
The president has indicated the timeframe will be used to strike deals with trading partners and claims around 75 countries have asked the White House for talks.
“I’m very pleased to see the changes in relation to the tariffs,” Starmer told reporters in Cambridgeshire today. “But the challenge hasn’t gone away, and I don’t think this is a passing phase. I think we’re living in a changing world.”
Pushed on whether a deal could be done with the US, Starmer says “our teams are talking and we’ve got good relations”.
But he adds: “I’m clear in my own mind that that on its own will not alleviate the challenges, it’s bigger than that and that’s why we’ve got to step up and turbocharge our economy.”
Donald Trump struck a conciliatory tone during his “press conference turned cabinet meeting” today, news correspondent David Blevins<\/a> says.
He notes that Trump failed to respond directly to questions about the US markets, which opened down today despite the president’s pausing most of his higher worldwide tariffs.
“He didn’t take any responsibility at all for the chaos we’ve witnessed in the markets,” Blevins says.
“Instead, when he got a question about what happened this morning, the drop in the US markets, he deferred to his treasury secretary, Scott Bessent.”
Donald Trump’s cabinet meeting came to a close at around 7pm UK time.
The US president said “everything will be beautiful” once the “transition problems” attached to his tariff policies come to an end.
He also told his cabinet he believes the US will “end up working out something” with China “that’s very good for both countries” – hours after the White House confirmed the total tariffs on Beijing were at 145% (see 17.08 post). In the same answer, he repeated his view that China has ripped off the US.
On countries looking to make a deal with his administration over tariffs, Trump said that if the US “can’t make the deal that we want to make” it would “go back to what we were”.
Watch: Trump ‘very happy with way country is running’<\/b>
Here’s what the rest of his cabinet said during the meeting:
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