Trump's tariff policy
Trump threatens China with new tariffs of 50 percent
Donald Trump is threatening to impose tariffs on China of another 50 percent unless the country withdraws the retaliatory tariffs announced last week, he writes on Truth Social.
After Trump's tariff announcement on Wednesday, Beijing announced that it would respond by imposing 34 percent tariffs on all American goods. According to the American president, negotiations with other countries will begin "immediately".
The meetings being discussed with China are being canceled, Trump writes.
On Monday afternoon, one of the president's advisers stated that Trump is considering a 90-day tariff break for all countries except China, but this is not true according to the White House press secretary.
Donald Trump is threatening to impose tariffs on China of another 50 percent unless the country withdraws the retaliatory tariffs announced last week, he writes on Truth Social.
After Trump's tariff announcement on Wednesday, Beijing announced that it would respond by imposing 34 percent tariffs on all American goods. According to the American president, negotiations with other countries will begin "immediately".
The meetings being discussed with China are being canceled, Trump writes.
On Monday afternoon, one of the president's advisers stated that Trump is considering a 90-day tariff break for all countries except China, but this is not true according to the White House press secretary.
White House denies report of tariff break: "Fake news"
The White House denies the report that Donald Trump is considering a tariff break for all countries except China and calls it "fake news".
The news was widely circulated on Monday afternoon after the Reuters news agency, based on an interview with advisor Kevin Hassett in CNBC, reported a possible tariff break of 90 days.
The news agency later sent out a correction.
"Reuters has retracted the incorrect report and regrets the error".
The report had a major impact on both Wall Street and the Stockholm Stock Exchange. Initial declines turned to gains, before the stock markets plummeted again when the White House denied it.
The White House denies the report that Donald Trump is considering a tariff break for all countries except China and calls it "fake news".
The news was widely circulated on Monday afternoon after the Reuters news agency, based on an interview with advisor Kevin Hassett in CNBC, reported a possible tariff break of 90 days.
The news agency later sent out a correction.
"Reuters has retracted the incorrect report and regrets the error".
The report had a major impact on both Wall Street and the Stockholm Stock Exchange. Initial declines turned to gains, before the stock markets plummeted again when the White House denied it.
Votes on tariffs
Billionaire and Trump donor rages against tariffs
Billionaire and hedge fund investor Bill Ackman, who supported Donald Trump during his election campaign, is now criticizing the White House for its tariff strategy, several American media outlets report.
"The president is losing the trust of business leaders around the world," Ackman wrote in a post on X.
He strongly criticizes the administration's trade war and warns of its consequences. The billionaire believes that the United States is in the process of destroying its trust as a trading partner.
Bill Ackman is now urging the president to take a "time-out" with tariffs for 90 days to reach a different agreement. Otherwise, the United States will start an "economic nuclear war against every country in the world," he writes.
Billionaire and Trump donor rages against tariffs
Billionaire and hedge fund investor Bill Ackman, who supported Donald Trump during his election campaign, is now criticizing the White House for its tariff strategy, several American media outlets report.
"The president is losing the trust of business leaders around the world," Ackman wrote in a post on X.
He strongly criticizes the administration's trade war and warns of its consequences. The billionaire believes that the United States is in the process of destroying its trust as a trading partner.
Bill Ackman is now urging the president to take a "time-out" with tariffs for 90 days to reach a different agreement. Otherwise, the United States will start an "economic nuclear war against every country in the world," he writes.
Source testifies to pessimism: "But what will they say?"
EU diplomats have low hopes that negotiations with the White House on Donald Trump's tariffs will have a positive outcome, according to AFP. A source wonders how it will be possible to negotiate a way out of the situation that has arisen.
- But what should the politicians say? "Prepare for the crash?" They have no idea what to do.
After Monday's crisis meeting, EU Commission President Ursula von der Leyen said that the Union has proposed a mutual elimination of tariffs on cars and industrial goods.
EU diplomats have low hopes that negotiations with the White House on Donald Trump's tariffs will have a positive outcome, according to AFP. A source wonders how it will be possible to negotiate a way out of the situation that has arisen.
- But what should the politicians say? "Prepare for the crash?" They have no idea what to do.
After Monday's crisis meeting, EU Commission President Ursula von der Leyen said that the Union has proposed a mutual elimination of tariffs on cars and industrial goods.
Reactions to the tariffs
EU is ready for mutual elimination of certain tariffs
The EU is ready to negotiate with the White House on the tariffs, says EU Commission President Ursula von der Leyen according to Reuters.
The EU summit says according to AFP that the Union has proposed a mutual elimination of tariffs on cars and industrial goods. Trade Commissioner Maros Sefcovic says that they do not intend to wait for an American response “indefinitely”.
After Monday’s crisis meeting, von der Leyen also states that a response may come.
– We will focus on negotiating with the other 83 percent of global trade that is outside the United States.
Donald Trump’s trade advisor Peter Navarro says that the EU must remove fees and regulations that make it difficult for foreign companies – including VAT.
EU is ready for mutual elimination of certain tariffs
The EU is ready to negotiate with the White House on the tariffs, says EU Commission President Ursula von der Leyen according to Reuters.
The EU summit says according to AFP that the Union has proposed a mutual elimination of tariffs on cars and industrial goods. Trade Commissioner Maros Sefcovic says that they do not intend to wait for an American response “indefinitely”.
After Monday’s crisis meeting, von der Leyen also states that a response may come.
– We will focus on negotiating with the other 83 percent of global trade that is outside the United States.
Donald Trump’s trade advisor Peter Navarro says that the EU must remove fees and regulations that make it difficult for foreign companies – including VAT.
The stock market collapse has cost Musk over 300 billion
The world’s richest have seen their fortunes shrink significantly during the past week’s stock market turbulence, reports The Guardian. The sharp declines have hit Elon Musk – the world’s richest man and Donald Trump’s gunfighter in the hardest.
The Tesla CEO is still by far the richest person in the world, but his fortune fell by the equivalent of over SEK 310 billion during Thursday and Friday's trading session alone, partly due to the decline in electric car shares. Musk, however, is still worth about SEK 3040 billion.
Facebook founder Mark Zuckerberg has made the second biggest loss in terms of SEK. His fortune has fallen by the equivalent of over SEK 270 billion.
Document: EU responds with 25 percent tariffs
The European Commission is proposing 25 percent tariffs on a range of American goods, Reuters reports based on documents seen by the news agency.
According to the proposal, some tariffs will be introduced starting May 16 and others December 1, in response to Donald Trump's tariffs on steel and aluminum. Products covered include diamonds, dental floss, sausages, nuts and soybeans.
Bourbon and wine have been removed from an original list of products that could be subject to retaliatory tariffs from the Union.
The European Commission is proposing 25 percent tariffs on a range of American goods, Reuters reports based on documents seen by the news agency.
According to the proposal, some tariffs will be introduced starting May 16 and others December 1, in response to Donald Trump's tariffs on steel and aluminum. Products covered include diamonds, dental floss, sausages, nuts and soybeans.
Bourbon and wine have been removed from an original list of products that could be subject to retaliatory tariffs from the Union.
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