{"id":18595,"date":"2025-04-10T17:23:16","date_gmt":"2025-04-10T17:23:16","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/live-updates-trump-says-china-tariff-is-at-least-145-u-s-market-rally-fades\/"},"modified":"2025-04-10T17:23:16","modified_gmt":"2025-04-10T17:23:16","slug":"live-updates-trump-says-china-tariff-is-at-least-145-u-s-market-rally-fades","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/live-updates-trump-says-china-tariff-is-at-least-145-u-s-market-rally-fades\/","title":{"rendered":"Live Updates: Trump Says China Tariff Is at Least 145%; U.S. Market Rally Fades"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<p>President Trump\u2019s whipsawing tariff policy has prompted bipartisan alarm on Capitol Hill, where Democrats are outraged and Republicans are caught between their deep opposition to tariffs and fear of criticizing Mr. Trump.<\/p>\n<p>The president\u2019s abrupt announcement on Wednesday that he would halt most of his reciprocal tariffs for 90 days just a week after announcing them allayed the immediate concerns of some G.O.P. lawmakers, many of whom rushed to praise Mr. Trump for what they characterized as deal-making mastery.<\/p>\n<div>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">But behind those statements was a deep well of nervousness among Republican lawmakers who are hearing angst from their constituents and donors about the impact of Mr. Trump\u2019s trade moves on the financial markets and the economy. Some of them have begun signing onto measures that would end the tariffs altogether or claw back Congress\u2019s power to block the president from imposing such levies in the future.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">\u201cI\u2019m just trying to figure out whose throat I get to choke if it\u2019s wrong, and who I put up on a platform and thank them for the novel approach that was successful if they\u2019re right,\u201d Senator Thom Tillis, Republican of North Carolina, said of the sweeping tariffs on Tuesday during a hearing with Jamieson Greer, the Trump administration\u2019s top trade official.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">On Wednesday, after Mr. Trump pulled back most of the tariffs but retained a 10 percent tariff rate for most countries and announced additional penalties on China, Mr. Tillis still sounded anxious. He said the move was likely to \u201creduce some of the escalation,\u201d but added that there was still considerable work to be done to prevent another market meltdown.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">\u201cWe\u2019ve got to get a deal before we get rid of uncertainty,\u201d he told reporters soon after Mr. Trump announced the change in a social media post.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Senator Rand Paul of Kentucky, who has been among the most outspoken Republican critics of Mr. Trump\u2019s tariffs, said he hoped the turnabout was a sign that someone was \u201ctalking some sense into the policy and being less extreme.\u201d<\/p>\n<div data-testid=\"imageblock-wrapper\">\n<figure class=\"img-sz-medium css-d754w4 e1g7ppur0\" aria-label=\"media\" role=\"group\"><figcaption data-testid=\"photoviewer-children-caption\" class=\"css-gbc9ki ewdxa0s0\"><span class=\"css-jevhma e13ogyst0\">Senator Rand Paul, Republican of Kentucky, has been among the most outspoken Republican critics of Mr. Trump\u2019s tariffs.<\/span><span class=\"css-14fe1uy e1z0qqy90\"><span class=\"css-1ly73wi e1tej78p0\">Credit&#8230;<\/span><span><span aria-hidden=\"false\">Kenny Holston\/The New York Times<\/span><\/span><\/span><\/figcaption><\/figure>\n<\/div>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">\u201cWhen you add a bunch of tariffs, you\u2019ll lose $6 trillion in the marketplace,\u201d Mr. Paul said on Wednesday. \u201cWhen you get rid of the tariffs, guess what? It comes bounding back. Tariffs are perceived by millions of people as being bad for the economy, so I hope there\u2019s a lesson learned.\u201d<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Mr. Paul has joined Democrats in cosponsoring resolutions that would end Mr. Trump\u2019s tariffs, including one that passed the Senate last week to terminate the levies on Canada, which drew the support of three other Republicans.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">In the House, Republican leaders have <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/04\/09\/us\/politics\/house-republicans-trump-tariffs-vote.html\" title=\"\">rushed to stymie<\/a> such measures and <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/03\/11\/us\/politics\/trump-tariffs-house-gop-vote.html\" title=\"\">insulate themselves<\/a> from having to vote on the issue, at least until the fall. The maneuvers are a tacit acknowledgment that such votes would pose an impossible political dilemma: reject the tariffs and earn Mr. Trump\u2019s ire or embrace them and risk the anger of their constituents.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">For now, many of them are cheering Mr. Trump\u2019s tariff pause.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">\u201cBehold the \u2018Art of the Deal,\u2019\u201d Speaker Mike Johnson said in a statement lauding the president\u2019s strategy. \u201cPresident Trump has created leverage, brought many countries to the table and will deliver for American workers, American manufacturers and America\u2019s future!\u201d<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">If it was the plan all along, Republicans in Congress were kept in the dark. And despite the temporary reprieve, trade hearings on Capitol Hill this week demonstrated a degree of skepticism in the G.O.P. ranks that seemed unlikely to disappear.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">During Tuesday\u2019s hearing, Senator James Lankford, Republican of Oklahoma, who has <a class=\"css-yywogo\" href=\"https:\/\/www.c-span.org\/program\/us-senate\/senator-lankford-on-us-china-trade\/523193\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">opposed tariffs in the past<\/a> and <a class=\"css-yywogo\" href=\"https:\/\/www.senate.gov\/legislative\/LIS\/roll_call_votes\/vote1152\/vote_115_2_00151.htm\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">voted in favor<\/a> of giving Congress more authority over tariffs during Mr. Trump\u2019s first term, chided Mr. Greer for failing to outline a clear strategy for Mr. Trump\u2019s levies, including how long they would remain in place.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">\u201cEveryone that I talked to is grateful that we\u2019re actually attacking the trade deficit issue and trying to be able to bring down barriers to trade,\u201d Mr. Lankford said. \u201cThey also want to get a timeline.\u201d<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">A day later, Mr. Greer had been speaking with lawmakers in the House for several hours as markets continued to plummet when Mr. Trump announced his 90-day tariff pause.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Mr. Lankford said the shift would provide \u201ctremendous\u201d help to businesses in the short term, but suggested that the uncertainty would return soon after the initial relief faded.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">\u201cObviously, three months from now there are still going to be some of these questions out there,\u201d he said on Wednesday.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">The skepticism reflects a fundamental disconnect between Mr. Trump and many Republican members of Congress who have spent decades promoting free trade and pushing back against the use of tariffs as a tool to promote effective trade relationships.<\/p>\n<div data-testid=\"imageblock-wrapper\">\n<figure class=\"img-sz-medium css-d754w4 e1g7ppur0\" aria-label=\"media\" role=\"group\"><figcaption data-testid=\"photoviewer-children-caption\" class=\"css-gbc9ki ewdxa0s0\"><span class=\"css-jevhma e13ogyst0\">During Mr. Trump\u2019s first term, Senator James Lankford, Republican of Oklahoma, voted in favor of giving Congress more authority over tariffs.<\/span><span class=\"css-14fe1uy e1z0qqy90\"><span class=\"css-1ly73wi e1tej78p0\">Credit&#8230;<\/span><span><span aria-hidden=\"false\">Haiyun Jiang for The New York Times<\/span><\/span><\/span><\/figcaption><\/figure>\n<\/div>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">\u201cI love President Trump \u2014 I\u2019m his strongest supporter in the Senate,\u201d Senator Ted Cruz, Republican of Texas, <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/04\/04\/business\/economy\/ted-cruz-trump-tariffs-republicans.html\" title=\"\">said on a podcast last week<\/a>. \u201cBut here\u2019s one thing to understand: A tariff is a tax, and it is a tax principally on American consumers.\u201d<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">A group of Republican senators vented their concerns about the tariffs in an interview on Tuesday night on Sean Hannity\u2019s program on Fox News, which Mr. Trump is known to watch routinely. And some are doing more than criticizing.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Last week, Senator Charles E. Grassley, Republican of Iowa, introduced legislation with Senator Maria Cantwell, Democrat of Washington, that would require the president to give Congress 48 hours\u2019 notice of any new tariffs and require House and Senate approval within 60 days or they would automatically be canceled. A half-dozen Republican senators have signed on.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Even some Republican leaders have carefully calibrated their responses, deferring to Mr. Trump while making it clear they have concerns.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">\u201cThere are a lot of very intricate trading relationships that exist today across the world,\u201d said Senator John Thune, Republican of South Dakota and the majority leader, who has long praised trade deals that have resulted in lower tariffs that benefit farmers in his home state. \u201cUltimately, we don\u2019t know what the economic impacts are going to be. We hope that the president is successful. And if he is and he gets some reciprocity from other countries around the world, you know this may all be temporary.\u201d<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">With House Republicans shutting down any move to force a vote on Mr. Trump\u2019s tariffs, it is unlikely that Congress will make any serious move to rein in his trade policies.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Senator Ron Johnson, Republican of Wisconsin, said Congress should reclaim its trade authority from the executive branch, but there was little chance of doing so given Mr. Trump\u2019s inevitable veto and the lack of a two-thirds majority in each chamber to override it.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">\u201cI can\u2019t really do anything about it now, so I want to give him the benefit of the doubt,\u201d Mr. Johnson said of the president. \u201cI\u2019m hoping he succeeds. I\u2019m not betting against him.\u201d<\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.nytimes.com\/live\/2025\/04\/10\/business\/trump-tariffs-stocks\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Trump\u2019s whipsawing tariff policy has prompted bipartisan alarm on Capitol Hill, where Democrats are outraged and Republicans are caught<\/p>\n","protected":false},"author":1,"featured_media":18596,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[239,114,305,113],"class_list":["post-18595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-customs-tariff","tag-donald-j","tag-stocks-and-bonds","tag-trump"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Live Updates: Trump Says China Tariff Is at Least 145%; U.S. Market Rally Fades - World News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/site.itshrt.com\/worldnews\/live-updates-trump-says-china-tariff-is-at-least-145-u-s-market-rally-fades\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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