1. Trump Tariffs News Summary

To help readers quickly understand the situation, here is a summary of the main news and events as of around April 8, 2025:

• Mutual tariffs are levied on about 90 countries worldwide

On April 2, Trump signed an executive order in the Rose Garden of the White House, announcing a 10% tariff on about 90 countries. The move was dubbed the ‘Liberation Day’ policy by the media (White House official website, April 3).

• Threat of up to 50% additional tariffs on China
  On April 7th, Trump posted on Truth Social that if China does not revoke its retaliatory tariffs of 34% against the US, the US will impose an additional 50% tax rate on China starting from April 9th (Reuters, April 8), potentially leading to a cumulative tariff of 104% on China by 2025 (CBS News, April 8).

• Multilateral Game Theory and Retaliation
  Major economies such as China, the European Union, and India have expressed their positions or taken retaliatory measures, sparking concerns about the escalation of a trade war.
  There are also different voices in the United States, with some economists warning that it could trigger a global recession.

On this basis, we will further break down the details of the implementation of this round of tariffs, as well as the reactions and responses from all sectors.

Source:Trump announces sweeping new tariffs, upending decades of US trade policy – video

2. Mutual Assistance Tariffs and Additional Levies on China

2.1 Policy Origins and Naming

• Mutual assistance tariff
  The Trump administration said the move aims to achieve balanced trade and reduce trade deficits between the United States and other countries.
  The policy was signed on April 2 and the 10% baseline tariff was implemented on all imported goods on April 5.

2.2 Tariff escalation against China

• 50% additional tariff threat
  On April 7, Trump issued a warning that if China does not withdraw the retaliatory tariffs of 34% against the United States, the United States will start imposing a 50% tariff on China on April 9, leading to an overall accumulated tariff of 104%.

2.3 Specific Implementation Schedule

10% basic tariff will take effect on April 5th.
Higher tariffs on 57 major trading partners will be implemented starting from April 9 (Reuters, April 6).
If the Sino-US negotiations break down, 50% of the tariffs on China will also take effect on April 9th.

Source: The White House

3. Global Market and Economic Response: Stock Market Plunge, Price Increase

3.1 Stock market volatility

• American stock market

On April 5, the Dow Jones Industrial Average plunged by 2,200 points due to concerns about the expansion of tariffs (CNN Business, April 5).

On April 7, the S&P 500 briefly entered bear market territory but rebounded to near its opening level by the close (NY Times, April 7).

• Asian market

On April 8, the Hang Seng Index fell 8% in early trading (The Guardian, April 8), and stock markets in Japan and South Korea also experienced varying degrees of volatility.

3.2 Import consumer goods prices soaring

• Electronic Products

Reuters (April 4) reported that a tax hike in the U.S. could push Apple’s iPhone retail price to $2,300.

• Daily groceries
  New York’s Economy Candy store says imported candies such as Japanese KitKat and German Haribo have seen an increase in purchase prices (AP News, April 7).

• Inflation concerns
  Trump claims that US inflation has fallen to unexpectedly low levels, but official data for February still shows a 2.8% year-on-year increase in prices (NY Times, April 7), which may be difficult to conceal the upward pressure on the consumer end.

4. International Community Response: Positions of Multiple Countries and Prospects for Negotiation

4.1 China’s strong counterattack

• Statement by the Chinese Ministry of Foreign Affairs
  On April 8, China called Trump’s new tariffs “adding fuel to the fire” and vowed to “fight to the end” (CNN Business, April 7; NPR, April 8).
  China may impose tariffs on American agricultural products and consider banning Hollywood movies and other cultural products as retaliation (Reuters, April 8).

4.2 EU and India

• EU countermeasures
  The European Commission has proposed a 25% retaliatory tariff on US goods, while seeking negotiations to eliminate industrial tariffs (Reuters, April 8).
  French Finance Minister emphasized the need to avoid full retaliation and protect the interests of European consumers (CNN, April 5).

• India is cautiously observing
  The Indian government has not retaliated against Trump’s 26% tariff on India, as it is negotiating a fall trade agreement, hoping to retain more room for maneuver (Reuters, April 7).

4.3 Other Possible Negotiations

• Japan and Israel exempt
  US Treasury Secretary Scott Bessent said that negotiations for tariff exemptions may be conducted with countries such as Japan and Israel (NY Times, April 7; Bloomberg, April 7).

5. Trump’s internal attitude: insisting on advancing despite policy differences

5.1 Trump’s tough stance

• Prescription speech
  On April 7, Trump told reporters on Air Force One that he would not pause the tariff plan, seeing it as a “prescription” to address trade deficits (Reuters, April 7).

• Deny intentionally manipulating the stock market
  Trump has denied in multiple public speeches that the stock market turmoil is the target, and insists that the US will benefit from tariffs in the long run.

Source:Donald J. Trump on X

5.2 Policy team’s opinion differentiation

• White House trade advisor
  Publicly stated that there is ‘little room for negotiation’ on tariff policy.

• Minister of Finance
  Advocate keeping communication open with all countries and granting partial allies exemption space.
  In an interview with the NY Times on April 7, calling on foreign partners to “stay calm” in an attempt to reduce global impact.

6. Expert and community perspectives: Multi-dimensional analysis

6.1 The caution of Wall Street and investors

• Market collapse concerns
  Billionaire Ken Langone, JPMorgan CEO Jamie Dimon and others have warned that escalating tariffs and retaliatory measures by various countries could trigger a global recession.
  The Wall Street Journal (March 31) reported that the Trump team is considering tariffs of up to 20%, which is making investors even more uneasy.

6.2 X (original Twitter) platform and public opinion

• Diverse Voices
  @KobeissiLetter(March 31) pointed out that April 2 is not the end of tariff uncertainty, and the market still needs to adapt to the possibility of a 20% or higher tax rate.
  @realMeetKevin(March 30) said that Trump was dissatisfied with the tariff intensity in his first term and was determined to double it in his second term.
  @KennethLFisher(April 7) criticized tariffs as “stupid and extreme,” but believed that the impact would gradually fade as the international market adjusts.

7. Macro Forecasting and Market Volatility

7.1 Main Tariff Implementation Schedule

Note: The date in the table, such as “Apr 2”, refers to April 2 (2025), without repeating the year in the same year.

7.2 Market Index Volatility Overview

8. Conclusion and Outlook

As April 9th approaches, the possibility of the United States imposing tariffs on China as high as 104% is causing jitters in global markets. If the Trump administration fails to reach a compromise with China and other major trading partners, a new round of retaliatory tariffs could likely trigger more severe financial turbulence and geopolitical conflicts.

On the other hand, the international community generally hopes to resolve differences through negotiations. Various forces, including the European Union, India, and Japan, are still mediating, attempting to balance multilateral interests by using partial exemptions or adjusting tax rates. For enterprises, high tariffs not only bring operating costs and uncertainty but may also nurture new opportunities in supply chain optimization and regional diversification.

Overall, the information conveyed by Trump Tariffs News indicates that trade protectionism will peak again in 2025, and the policy choices and negotiation games of major economies will profoundly affect the development direction of the world economy. Both investors and ordinary consumers will feel tangible changes in aspects such as prices, stock markets, and employment. In this situation, it is particularly important to keep track of market dynamics and conduct in-depth research on policy evolution.

If you want to further understand the latest interpretations of international trade, macroeconomics, and global financial markets, welcome to visit Gate LearnAccess professional courses and real-time information. By delving into learning and keeping up with the latest market trends, you will be better equipped to deal with the challenges brought by changes in tariff policies and seize hidden opportunities.