Trump Tariffs Live Updates: Highlights

India has taken up the issue of the United States reimposing tariffs on steel and aluminium exports, with the matter expected to be discussed during high-level talks next week, an official confirmed.

The renewed duties come despite a previously negotiated resolution between the two countries under a Mutually Agreed Solution (MAS) framework at the World Trade Organization (WTO). In 2018, the US, citing national security concerns, had imposed a 25% duty on certain steel products and 10% on aluminium imports. India retaliated in June 2019 by levying additional tariffs on 28 American products, including almonds and walnuts, and filed a formal complaint at the WTO.

In 2020, both sides opted to amicably settle all seven of their pending WTO disputes, including the one related to steel and aluminium. As part of that deal, India withdrew retaliatory duties on eight US items, while the US agreed to work toward enhancing market access for Indian exporters in the metals sector.

With the recent re-imposition of tariffs by the US, India is once again pressing for a resolution, emphasizing the importance of maintaining fair and predictable trade terms, particularly for its key steel and aluminium exports.

India’s leading IT services firms — TCS, Infosys, and Wipro — delivered underwhelming results for the March quarter and full FY25, falling short on multiple fronts and collectively signaling a cautious stance going forward. The subdued performance comes against the backdrop of mounting macroeconomic challenges and shifting global trade dynamics, which have weighed heavily on business sentiment.

Management commentary from the IT giants reflected a sobering tone, with muted growth outlooks and a noticeable reluctance to commit to wage hikes. The lingering overhang of macro uncertainty, further intensified by recent US tariff actions reshaping global trade flows, was a recurring theme across Q4 earnings calls.

However, hiring trends offered a glimmer of positivity. The three firms together added 1,438 employees between Q3 and Q4 of FY25 — a reversal from the previous quarter's net reduction of over 900 staff — indicating tentative signs of stabilization in workforce planning.

Overall, the results underscore the challenging road ahead for India’s IT sector as it navigates a volatile external environment and recalibrates expectations for FY26.

Taiwan President William Lai Ching-te has reassured leaders of the aquaculture industry that the country’s ongoing tariff negotiations with the United States will not jeopardize its agricultural and fishery sectors, amid growing concerns over Washington’s proposed trade measures primarily aimed at China, according to the Taipei Times.

While the White House recently paused a sweeping 32% import tariff on nations with trade surpluses — including Taiwan — a 10% tariff will still be enforced, with China being excluded from the exemption. The move stems from a plan announced by the U.S. administration under former President Donald Trump on April 2, which seeks to impose “reciprocal” tariffs on countries with significant trade imbalances with the U.S.

Despite a temporary reprieve granted last week, Taiwanese officials remain wary, as key export sectors could still be impacted. An Executive Yuan official confirmed that Taiwan and the U.S. are expected to hold a second round of tariff negotiations soon, following preliminary discussions held on April 11.

"We are, together, going to make America bigger, better, stronger, wealthier, healthier, and more religious, than it has ever been before!!! DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES OF AMERICA!!!" he said in a post on X.

With their baby due in mid-July, Sam Rutledge and his wife expected to have a few months to gradually prepare for parenthood. But President Donald Trump’s early April announcement of new tariffs sent the couple into a shopping sprint.

Fearing rising prices, the Rutledges quickly purchased essential baby items — including two strollers, a car seat, a nursery glider, a crib, and a high chair — all of which are manufactured overseas.

“These are all pretty expensive under normal conditions,” said Rutledge, a high school physics teacher. “But when it became clear tariffs were coming, we decided to buy them in case they became prohibitively expensive.”

Raising a child in the US is already a costly endeavor. According to BabyCenter, the average cost in the first year alone is $20,384. But the Trump administration’s tariffs — ranging from 10% on imports from most countries to as high as 145% on Chinese goods — are expected to make it even more expensive for new parents.

The Juvenile Products Manufacturers Association, a leading US trade group, estimates that roughly 90% of baby care products and their components — from bottles and diaper pails to strollers and car seats — are produced in Asia, with the vast majority sourced from China.

As tariff-related uncertainty looms, families like the Rutledges are racing against time — and trade policy — to avoid a heavier financial burden.

Nearly a fortnight after the first wave of demonstrations, protesters returned to the streets to express frustration over Trump's policies, including the imposition and threats of tariffs, The New York Times reported.

However, turnout in cities like New York, Washington, and Chicago appeared smaller than the protests held on April 5.

According to an organiser quoted by The New York Times, More than 700 events were planned nationwide, from Jacksonville, Fla., to Los Angeles.

Participants accused the president of trampling on civil liberties and the rule of law, citing concerns over immigration, federal job cuts, economic policies, and other issues.

The protestors gathered outside the White House, repeatedly chanting "shame!" to voice their dissatisfaction with the Trump administration.

Efforts to create global tax standards for digital services and the ultra-wealthy are faltering, with the United States under Donald Trump walking away from key international agreements. In a memo issued on February 21, Trump warned of retaliatory tariffs against countries imposing what he called “discriminatory” taxes on U.S. tech giants like Amazon, Alphabet, Microsoft and Meta.

The move revives tensions with European allies, many of whom have already implemented digital services taxes. France, for example, collected €780 million ($887 million) last year under its tax, first introduced in 2019. Seven other nations have followed suit.

The EU is now weighing its own digital levy in response to Trump’s threats of 20% tariffs on European goods. Britain may also revisit its £800 million digital tax amid hopes of securing a trade deal with Washington.

Global Corporate Tax Deal Under Strain
A broader effort by nearly 140 countries to tax multinational companies under a 2021 OECD agreement is also unraveling. The deal includes two pillars: the first allows countries to tax companies where profits are made, while the second sets a global minimum tax rate of 15%.

While pillar two has been adopted by over 60 economies, pillar one remains stalled — a deadlock that began even during Joe Biden’s presidency.

“If the EU and others allow American multinationals to exempt themselves, it will unfortunately spell the end of this very important agreement,” said economist Gabriel Zucman.

Billionaire Tax Faces Political Wall
A proposal by Brazil to tax individuals with over $1 billion in assets at a minimum of 2% annually has also lost momentum. The Biden administration has shown little support, and the plan is unlikely to advance under Trump, who is known for championing tax cuts.

The U.S. is home to nearly one-third of the world’s billionaires, more than any other nation.

“The world cannot wait for full G20 consensus,” economist Thomas Piketty warned at a recent Paris conference. “History shows that once a few countries act, reform can spread.”

The cost of commercial airplanes, already inflated by pandemic-era disruptions, is poised to climb further as aerospace giants Boeing and Airbus face the combined impact of trade tariffs and rising production costs. According to an aviation expert who spoke to AFP on condition of anonymity, commercial jet prices have jumped by roughly 30% since 2018.

Both companies have faced rising costs for titanium, castings, forgings, energy, and labor. Boeing struck a deal with its Seattle-based machinist union last year that raises wages by 38% over four years. Spirit AeroSystems, a key supplier to both firms, also signed a similar labor agreement.

"Anything titanium... especially since all that Russian capacity has been cut off" has seen outsized price hikes, said Richard Aboulafia of AeroDynamic Advisory, who estimates equipment and material costs have jumped 40% since 2021.

A sharp rise in US trade protectionism is placing Arab economies under mounting pressure, endangering $22 billion worth of non-oil exports, according to a policy brief released by the United Nations Economic and Social Commission for Western Asia (ESCWA).

Jordan emerges as the most vulnerable, with nearly a quarter of its total exports bound for the United States. Bahrain is also flagged due to its heavy dependence on aluminum and chemical exports to the US market, Xinhua news agency reported.

Meanwhile, the United Arab Emirates could see disruptions to roughly 10 billion dollars in US-bound re-exports, a result of US tariffs on goods originally produced in third countries, said the brief.

The ESCWA brief also warns of growing financial strains across Gulf Cooperation Council (GCC) economies, which are contending with a sharp drop in global oil prices.

Further financial challenges loom for non-GCC states. ESCWA projects that Egypt, Morocco, Jordan, and Tunisia will collectively face an additional 114 million dollars in sovereign interest payments in 2025, driven by rising global bond yields amid investor uncertainty. These higher borrowing costs risk tightening national budgets and delaying development initiatives, it said.

Drew Greenblatt, president of Marlin Steel Wire Products in Baltimore, Maryland, is firmly behind the Trump administration’s tariff strategy. His company, which employs 115 people across three states, manufactures wire baskets and racks for medical, aerospace, and food industries—all using American steel.

Greenblatt says his biggest challenge is competing with cheaper imports from countries that benefit from what he calls an “unfair advantage.” For instance, European tariffs make it more expensive for Germans to buy American baskets than for Americans to buy German-made ones.

“It’s wildly unfair to the American worker,” he said. “And this has, by the way, been going on for decades.”

India and the United States are set to begin a three-day round of trade talks in Washington starting April 23, aiming to lay the groundwork for a proposed bilateral trade agreement (BTA), official sources said. The discussions will focus on finalizing terms of reference (ToRs) across 19 key areas, including tariffs, non-tariff barriers, and customs facilitation. The Indian delegation, led by Rajesh Agrawal—recently named the next commerce secretary—will seek to advance negotiations within the ongoing 90-day tariff pause. This will be the first in-person meeting to address outstanding issues before the formal launch of trade talks.

British Prime Minister Keir Starmer described his recent phone call with US President Donald Trump as "productive," highlighting discussions on a potential trade agreement aimed at addressing the steep import tariffs imposed by the US on various countries.

According to Downing Street, the conversation also touched on the Russia-Ukraine conflict and recent US strikes on a Yemeni port targeting Houthi rebels. The call came shortly after Trump mentioned plans for a second State Visit to the UK, likely in September, though Buckingham Palace has yet to confirm the date.

Drew Greenblatt, president and owner of Marlin Steel Wire Products, supports the Trump administration’s use of tariffs to level what he sees as an unfair global trading system that disadvantages US manufacturers. His Baltimore-based company, which employs 115 people and operates in Maryland, Indiana, and Michigan, produces wire baskets and racks for industries ranging from aerospace to medical devices. Greenblatt sources his steel domestically from states like Tennessee, Illinois, and Michigan. He argues that foreign competitors enjoy an unfair edge, pointing to European tariffs and taxes that make it far more expensive for German buyers to purchase his products than for Americans to import similar goods from Germany.

High tariffs aimed at protecting domestic industries—once criticized by developed nations—are making a notable return to global trade policy, sources say. Interestingly, the very arguments once championed by developing countries, such as safeguarding the livelihoods of farmers and fishermen, are now being echoed by advanced economies. While no countries were named, sources pointed to a growing shift in trade talks, where livelihood-based activities like small-scale farming and fishing are once again being distinguished from commercial operations—an approach previously dismissed but now gaining renewed relevance.

In the bustling city of Dongguan, massive aluminum sheets line the interior of Danny Lau’s factory as workers apply protective oil coatings. Lau, a Hong Kong entrepreneur, established the factory in mainland China during the 1990s to benefit from lower production costs. Although his business has weathered previous economic challenges, Lau admits that the ongoing trade war has been the toughest test yet. “We didn’t expect that our orders would suffer so heavily,” Lau said.

US ambassador to Japan, George Glass, has voiced a strong commitment to deepening cooperation with Japan to counter China’s growing military and economic influence, according to the Japan Times.

Arriving in Tokyo on Friday, Glass emphasized the importance of addressing Beijing’s "predatory habits," including aggressive lending practices and attempts to circumvent trade rules.

Despite recent US tariffs on Japan, he expressed “extreme optimism” about reaching a bilateral trade deal. His remarks come amid reports that the Trump administration plans to use ongoing tariff negotiations to urge allies to scale back economic ties with China in exchange for favorable trade terms.

US Vice President JD Vance arrived at the Vatican on Saturday morning ahead of a meeting with the Holy See's second-highest official, just two months after Pope Francis lambasted the new US administration.

Catholic convert Vance and his delegation arrived at the pope's official residence, the Apostolic Palace, just before 10:00 am (0800 GMT) and were due to hold a meeting with the Vatican's secretary of state, Cardinal Pietro Parolin, and Paul Richard Gallagher, the Holy See's secretary for relations with states.

Massive aluminum sheets hang in Danny Lau’s factory as workers bustled about painting them with oil coating in China's southern industrial city of Dongguan.

The Hong Kong businessman set up this factory in mainland China in the 1990s, taking advantage of lower manufacturing costs. While the factory has soldiered through past economic turmoil, Lau said the escalating trade war has proved to be “most difficult.”

“We didn’t expect that our orders would suffer so heavily,” Lau said.

During U.S. President Donald Trump’s first term, the factory was hit with a 25% tariff. After Trump returned to the White House this year, tariffs escalated further, with the U.S. imposing sweeping 145% tariffs and China raising its tariffs to 125%. For Lau's aluminum-coating factory, he said it amounted to a 75% tariff on his products.

The terms of references (ToRs) finalized by India and the US for the proposed bilateral trade agreement include around 19 chapters covering issues such as goods, services, and customs facilitation, official sources said. To give further impetus to the talks, an Indian official team is visiting Washington next week to iron out differences on certain issues before formally launching negotiations for the proposed India-US bilateral trade agreement (BTA).

India's chief negotiator, Additional Secretary in the Department of Commerce Rajesh Agrawal, will lead the team for the first in-person talks between the two countries.

Agrawal was appointed as the next commerce secretary on April 18. He will assume office from October 1.

The three-day Indian official team's talks with the US counterparts in Washington will start from Wednesday (April 23), the official said.

The visit, which comes within weeks of a high-level US team visiting India, indicates that the talks for the BTA are gaining momentum.

The visit follows senior official-level talks held between the two countries last month here.

The new US ambassador to Japan arrived in Tokyo on Friday and said he is optimistic that his country and its key Asian ally will reach a deal in their ongoing tariff negotiations.

George Glass, a prominent businessperson known for his background in finance, investment banking and technology, arrives as Washington and Tokyo are negotiating President Donald Trump's tariff measures, which have triggered worldwide concern about their impact on the economy and global trade.

“I'm extremely optimistic ... that a deal will be get done,” Glass told reporters after landing at Tokyo's Haneda international airport.

His arrival comes a day after the two countries held their first round of tariff talks between their top negotiators in Washington where both sides agreed to try to reach an agreement as quickly as possible and hold a second round of meetings later this month.

Citing the US-China trade conflict, Ford said Friday it has "adjusted" its exports to the country, where the US auto giant operates manufacturing jointly with local partners.

"We have adjusted exports from the US to China in light of the current tariffs," Ford told AFP without specifying the models affected.

The US auto giant halted Michigan-made shipments of the F-150 Raptor, Mustang and Bronco sport utility vehicles, according to a Wall Street Journal report Friday.

Also affected was the Lincoln Navigator, which is built in Kentucky, the newspaper said.

Over the last decade, Ford has sold around 240,000 vehicles in China exported from the United States. But volumes fell sharply in 2024 to around 5,500.

The move is the latest ripple effect from an escalating trade war between Beijing and Washington.

When President Donald Trump paused a punishing round of global tariffs last week, he attributed his change of heart to one main thing.

"I was watching the bond market," he said. "The bond market is very tricky."

Trump should know -- he had a big personal stake in it.

A New York Times analysis of Trump's financial holdings shows that he had roughly $125 million to about $443 million invested in bonds as of last year, a range that far eclipsed his investment portfolio's exposure to the stock market.

Trump does own a huge stake in his publicly traded social media company, Trump Media & Technology Group, but he has said he has no plans to sell those shares, currently worth roughly $2 billion. The company's stock, which he listed separately from his liquid stock and bond holdings on his latest financial disclosure, had already plunged about 40% this year before the new round of tariffs.

Trump appeared unfazed when the tariffs sent the stock market into a tailspin, wiping out trillions of dollars in value in a matter of days.

Volkswagen could relocate some production of its high-end Audi line to dodge US tariffs on automobiles ordered by President Donald Trump, the German carmaker's CEO said in an interview released Friday.

Europe's largest auto manufacturer, which is especially vulnerable to the increase in US tariffs, was in "constructive discussions" with the US administration on the issue, Oliver Blume told the Frankfurter Allgemeine Zeitung newspaper.

Volkswagen, which earlier in April said Trump's slew of planned tariffs had dragged down its first-quarter operating profit, wanted to do "as much as possible to remain an investor and reliable partner for the United States", Blume added.

"For Audi, production in the United States would be in line with our development strategy," he said.

However he ruled out any American manufacturing for Porsche, despite the US market being the luxury sports car brand's largest.

At only around 70,000 vehicles a year the volumes were too small to consider the idea, he said.

Trump last month announced a 25-percent tariff on autos imported to the United States, which is the number one destination for German car exports.

The Republican has claimed that imposing tariffs would make foreign companies relocate part of their production to the United States.

US Vice President JD Vance met with Italian Premier Giorgia Meloni in Rome on Friday for a second day of talks on tariffs and then attended Good Friday services at the Vatican amid speculation of a possible pope greeting this weekend.

“I’ve been missing you,” Meloni jokingly told Vance as he entered the courtyard of Chigi Palace, the premier's office.

They had seen each other just the previous day in the Oval Office, where Trump lavished praise on the Italian leader for her crackdown on migration but didn't yield on tariff plans that have increased tensions with the European Union and stoked fears of recession.

The White House and Meloni's office on Friday issued a joint statement that said Trump would visit Italy “in the very near future.”

"There is also consideration to hold, on such occasion, a meeting between U.S. and Europe,” the statement said.

Vance, a Catholic convert, later attended Good Friday services with his wife and three children in St. Peter’s Basilica and was scheduled to meet Saturday with the Vatican secretary of state, Cardinal Pietro Parolin.

US President Donald Trump said that United States is having good conversations privately with China amid the two countries' trade war. "By the way, we have nice conversations going with China," Trump told reporters at the White House.

"It's, like, really very good," he added. He did not offer additional details.

US President Donald Trump on Friday praised Italian Prime Minister Giorgia Meloni, saying she made a "fantastic impression" during her visit to the United States.

Sharing a post on Truth Social, Trump posted, "Prime Minister Georgia Meloni of Italy was great yesterday in her visit to the White House. She loves her country, and the impression she left on everyone was FANTASTIC!!!"

Chinese President Xi Jinping concluded his three-nation Southeast Asian visit in Cambodia on Friday, showcasing Beijing's dependability amidst regional economic concerns stemming from US President Donald Trump's proposed tariffs.

Over the past decade, China has significantly expanded its regional presence through its economic influence. As Trump's tariffs pose risks to Southeast Asian export economies, which primarily rely on the US market, Beijing positions itself as a pillar of stability.

Cambodia faces particularly severe reciprocal tariff implications from Washington. Beyond Trump's universal 10 per cent tariff, the nation could encounter a 49 per cent tariff on US exports after his 90-day suspension ends.

The other nations on Xi's itinerary, Vietnam and Malaysia, face proposed tariffs of 46 per cent and 24 per cent respectively.
Xi's visit gained significance due to the US tariff announcements.

"The timing of the visit is extraordinarily auspicious for China, falling just in the wake of the announcement of Trump's tariffs that have caused consternation in Cambodia and Vietnam ... and upset in Malaysia," Astrid Noren-Nilsson, a senior lecturer in the Study of Contemporary South-East Asia at Sweden's Lund University, said in an email interview on Thursday.

"Xi Jinping can now carry out the tour equipped with the moral authority and goodwill of a singularly constant friend and reliable trading partner."

US President Donald Trump and his administration are studying whether dismissing independent Federal Reserve chief Jerome Powell is an option, his top White House economic aide said.

"The president and his team will continue to study that matter," National Economic Council director Kevin Hassett told reporters when asked if firing Powell was a possibility, one day after Trump lashed out at the Fed chief.

Italian Premier Giorgia Meloni welcomed US Vice President JD Vance in Rome on Friday for additional discussions regarding tariffs, whilst the White House indicated a potential US-Europe conference during US President Donald Trump's forthcoming visit.

"I've been missing you," Meloni said playfully to Vance as he arrived at the courtyard of Chigi Palace, the premier's office.

Their previous encounter had occurred just a day earlier at the Oval Office, where Trump commended the Italian leader's strict immigration policies, yet remained firm on the tariff proposals that have created friction with the European Union and raised concerns about economic downturn.

A joint statement released on Friday by the White House and Meloni's office announced that Trump would be visiting Italy "in the very near future."

The statement further noted, "There is also consideration to hold, on such occasion, a meeting between US and Europe."

Following discussions with European officials in Paris, US Secretary of State Marco Rubio emphasised the urgency for Washington to evaluate the viability of a potential ceasefire in Ukraine.

"We need to figure out here now, within a matter of days, whether this is doable in the short term, because if it's not, then I think we're just going to move on," he told AFP at the Le Bourget airport.

"If it is, we're in. If it's not, then... we have other priorities to focus on as well."

"The United States has been helping Ukraine over the last three years, and we want it to end, but it's not our war," Rubio added.

Indonesia said Friday it would boost oil and gas imports from the United States as part of a deal to ease stiff tariffs threatened by Washington, adding that talks would be completed within 60 days.

Chief Economic Minister Airlangga Hartarto made the comments after he and other delegates met US Secretary of Commerce Howard Lutnick, Trade Representative Jamieson Greer and Secretary of State Marco Rubio.

"Indonesia will increase the purchase of energy from the US, including LPG, crude oil, and gasoline,” Airlangga told an online news briefing in Washington.

"Indonesia also plans to keep buying agricultural products from the US, such as wheat, soybeans, and soybean milk."

He said the team hoped to meet Treasury Secretary Scott Bessent next week, adding that Indonesia was one of the first countries the US government accepted to negotiate.

He also said that Indonesia promised it would help American companies operating in Indonesia with easier permits and incentives.

The 32 percent tariffs imposed on Indonesia in Donald Trump's April 2 "Liberation Day" announcement were among Asia's highest. But like most other countries, it was given a 90-days pause to allow time for negotiations.

The United States has told the World Trade Organization (WTO) that its decision to impose tariffs on steel and aluminium imports was taken on national security grounds, not as a safeguard measure, a key distinction that challenges India’s formal complaint filed earlier this month.

In a communication dated April 17, the US said the tariffs were imposed under Section 232 of US trade law, which authorizes the President to restrict imports that threaten to impair national security. "The US notes that the premise for India's request for consultations under Article 12.3 of the Agreement on Safeguards is that the tariffs are safeguard measures," the communication stated. “The President imposed the tariffs on steel and aluminum pursuant to Section 232, under which the President determined that tariffs are necessary to adjust imports of steel and aluminum articles that threaten to impair the national security of the US.”

The US has informed the global trade body WTO that the decision to impose tariffs on steel and aluminium, was based on national security grounds and should not be considered as safeguard measures, according to a communication. The US shared this response with the World Trade Organisation (WTO) after India requested consultations under the WTO's Safeguards Agreement on April 11 with America.
India has said that notwithstanding the USA's characterisation of these measures as security measures, they are in essence safeguard measures.

It has also stated that America has failed to notify the WTO Committee on Safeguards under a provision of the Agreement on Safeguards (AoS) on taking a decision to apply safeguard measures.

"The US notes that the premise for India's request for consultations under Article 12.3 of the Agreement on Safeguards is that the tariffs are safeguard measures.... The (US) President imposed the tariffs on steel and aluminum pursuant to Section 232, under which the President determined that tariffs are necessary to adjust imports of steel and aluminum articles that threaten to impair the national security of the US," America has said in a communication, dated April 17, to the trade body.

The US also said that Section 232 is a national security statute, and the tariffs are being kept in place under the security exception allowed under a provision of the General Agreement on Tariffs and Trade (GATT) 1994.

Republican and Democratic lawmakers made their first trip to Taiwan under the new Trump administration a bipartisan one, aiming to show both Taiwan and China that U.S. support for Taiwan's defense remains broad, despite the harsh words and harsh tariffs President Donald Trump has had for the Taiwanese.

Taiwan's leaders so far in this week's trip by two Republican and one Democratic senators are messaging back just as hard, assuring the Republican U.S. administration that they have taken in Trump's complaints and are acting on them.

Many Asia-Pacific nations are eschewing the retaliatory criticism and tariffs of some of the U.S.'s European allies after Trump earlier this month slapped broad tariffs on many countries around the world, including a 32% one for Taiwan.

Despite that hit, conversations in Taiwan this week were “optimistic and forward-looking,” Democratic Sen. Chris Coons said in Taipei. “And I'm optimistic that we're going to see a strong next chapter in U.S.-Taiwan relations.”

Despite sharp criticism and steep tariffs from President Donald Trump, US lawmakers made a rare bipartisan visit to Taiwan this week, signaling enduring support for the island’s security and sovereignty even as relations are tested under the new Republican administration.

The delegation, comprising Republican Sens. Pete Ricketts and Ted Budd and Democratic Sen. Chris Coons, aimed to reassure both Taiwan and Beijing that American commitment to Taiwan’s defense remains bipartisan and resilient.

“Our conversations here have been optimistic and forward-looking,” Sen. Coons said in Taipei. “I’m optimistic that we’re going to see a strong next chapter in US-Taiwan relations.”

Taiwan pushes back with action, not anger

Taiwanese leaders responded not with retaliatory rhetoric, but with concrete assurances that they are taking Trump’s complaints seriously — particularly on trade, defense, and technological cooperation.

President Trump earlier this month imposed sweeping tariffs, including a 32% hit on Taiwanese goods, and accused the island of "stealing" the US chip industry. He has previously insisted Taiwan “should pay us” for military protection.

Yet, Taiwan’s government is moving quickly to align with the new US expectations. The island's officials said they are accelerating trade and investment agreements with American partners — all while boosting self-reliance in defense.

“Taiwan is investing rapidly to strengthen its military and reduce dependence on the US,” Sen. Ricketts noted, pointing to Taiwan’s new focus on drone warfare and joint defense ventures with American firms.

Asian markets were mixed in holiday-thinned trade Friday as investors keep tabs on countries' tariff talks with the White House, while Donald Trump's remarks that he was reluctant to hike levies on Beijing even more provided a little support.
Governments around the world are lining up to visit the US president's team as they look to pare back eye-watering levies imposed by the United States for what he calls years of being "ripped off" and as he looks to reshore manufacturing.

While several officials have been in touch, Japanese negotiator Ryosei Akazawa's trip this week was seen as a "canary in the mine" owing to the countries' long-running relationship.

He met Trump, Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent on Wednesday without making any immediate progress, though a second round of talks is scheduled for the end of April.

Trump had earlier hailed "big progress" in the negotiations.

Meloni has warned against dividing the West and criticized the tariffs as “wrong.” Still, she is expected to focus on preserving Italy’s $45 billion trade surplus with the U.S., built on exports like sparkling wine, cheese, fashion, and luxury cars.

The broader context is a global economy rattled by Trump’s tariff wars. While the U.S. has raised tariffs on China to 145%, it continues to impose separate duties on Canada, Mexico, and European goods.

Meloni’s success, analysts say, may lie not in returning with concessions—but in understanding and shaping the contours of the next phase of transatlantic relations. “If she can give Europe a read on what Washington wants—on trade, defense, Ukraine—that would already be a win,” said analyst Wolfango Piccoli.

Meloni, aligned with Trump ideologically on immigration and values, has emerged as a key interlocutor. Yet their differences on Ukraine and Italy’s defense spending—at 1.49% of GDP, below NATO’s 2% target—remain points of tension.

Experts say Meloni’s real aim is to understand Trump’s evolving trade goals and bring clarity back to Europe. “There’s the whole trade agenda, and while she’s not officially negotiating, we know Trump likes these informal exchanges,” said Fabian Zuleeg of the European Policy Center.

The stakes are high. Trump has not met with von der Leyen and has criticized the EU as being designed to “screw” the U.S. The EU, meanwhile, is trying to protect what it calls the “most important commercial relationship in the world”—annual transatlantic trade worth over $1.8 trillion.

Trump’s latest push includes a 90-day pause on tariffs to allow space for talks. EU Trade Commissioner Maroš Šefcovic met this week with U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer, but acknowledged that eliminating tariffs would require “significant joint effort.”

President Donald Trump on Thursday said he is in “no rush” to reach any trade deals, citing revenue generated from tariffs, but expressed optimism during his meeting with Italian Prime Minister Giorgia Meloni that an agreement with the European Union could still be within reach.

“We’re in no rush,” Trump said, adding that countries want access to the U.S. market, giving Washington leverage in ongoing talks. His administration has floated the idea of clinching “90 deals in 90 days,” but the president played down any accelerated timeline, saying deals would come “at a certain point.”

Meloni's meeting with Trump is the first by any European leader since he imposed—and then partially paused—a 20% tariff on European exports. Although Meloni represents Italy, EU officials confirmed that the outreach was “closely coordinated” with European Commission President Ursula von der Leyen.

On Thursday, Prime Minister Giorgia Meloni of Italy arrived at the White House to meet President Donald Trump, marking a critical moment in the U.S.-Europe trade standoff. Meloni, one of the few European leaders Trump has openly praised, follows a Japanese delegation that left Washington a day earlier without clinching a deal.

Meloni may have come representing Italy, but for Trump’s administration, she’s seen as a potential bridge to the rest of Europe. Trump, who has yet to meet European Commission President Ursula von der Leyen, has repeatedly claimed the European Union was created to “screw” the U.S.

“There’ll be a trade deal, 100%,” Trump said as he welcomed Meloni, referring to a potential agreement before the 90-day pause on new tariffs expires.

Senior administration officials, speaking ahead of the meeting, said Meloni could help convey Washington’s views across Europe. The two leaders were scheduled to begin talks over an elaborate lunch also attended by Vice President JD Vance, whose own European trip earlier this year aligned him with Germany’s far-right political party.

Despite Trump’s admiration for Meloni’s conservative nationalism, Italy isn’t quite the model he wants on trade or defense. Italy maintains a $45 billion trade surplus with the U.S., driven by American demand for luxury goods—everything from sparkling wine to Ferraris. The high-end autos, which sell for upwards of $250,000, may face Trump’s proposed 25% tariff hike.

Meanwhile, Italy has yet to meet its NATO pledge of spending 2% of its GDP on defense, currently falling short at under 1.5%.

The Japanese left without a breakthrough after discussing auto tariffs and high-tech imports. Meloni is unlikely to emerge with a deal either—but for Trump, these face-to-face sessions are the point. In recent days, he has raised, paused, and threatened tariffs, all on a whim.

Meloni’s visit underscores Europe’s search for a stable channel to the Trump White House—and Trump’s continued use of unpredictability as a negotiating weapon.

President Donald Trump said Thursday he is in “no rush” to reach any trade deals because he views tariffs as making the United States wealthy. But he suggested while meeting with Italian Premier Giorgia Meloni that it would be easy to find an agreement with the European Union and others.

Trump played down the likelihood of an accelerated timeline to wrap up deals, saying other countries “want to make deals more than I do.”

“We're in no rush,” said Trump, hinting he has leverage because other countries want access to U.S. consumers.

Even though Trump has a warm relationship with Meloni, she was unable in their meeting to change his mind on tariffs.

“No, tariffs are making us rich. We were losing a lot of money under Biden,” Trump said of his predecessor, Democrat Joe Biden. “And now that whole tide is turned.”

Trump is convinced that his devotion to tariffs will yield unprecedented wealth for his country even as the stock market has dropped, interest on U.S. debt has risen and CEOs are warning of price increases and job losses in what increasingly looks like a threat to the existing structure of the world economy.

A bond market panic was enough for Trump to partially pull back on his tariffs, causing him to pause his 20% import taxes on the EU for 90 days and charge a baseline 10% instead. Meloni's visit showed the challenge faced even by leaders who enjoy a rapport with Trump.

President Donald Trump said Thursday that the United States was in talks with China to make a deal on tariffs, as the world's largest economies slug it out in a bitter trade war.

"Yeah, we're talking to China," Trump told reporters in the Oval Office. "I would say they have reached out a number of times."

“No, tariffs are making us rich. We were losing a lot of money under Biden,” the U.S. president said. “And now that whole tide is turned.”

Trump took time to lavish praise on the Italian prime minister, however.

“She’s doing a great job, certainly one of our great allies,” he said. “She’s a fantastic person and doing a great job and our relationship is great.”

Dozens of delivery drivers in yellow and blue uniforms crowded around a snack street in downtown Shanghai, on standby for their next order. The work was temporary, many said, a gig to help pay off a debt or fill the gap before a better-paying job.

For China's workers, financial security is further out of reach than ever. They are stuck in China's deflation loop. Stubbornly low prices on everything from eggs to a hot delivered meal have cut into the profits that businesses make, gnawing at the money workers earn. Everyone has become tighter with money, pushing down prices even more.

A bruising trade fight with the United States is the last thing anyone wanted, especially policymakers who have floundered to stop prices falling. It threatens to make things harder than they already were for China's hundreds of millions of workers.

Cao Zhi, 27, left his low-paying job selling car insurance to join the food delivery platform Ele.me four years ago in Shanghai. He said he had to work at least one extra hour each day to take home the same amount of pay that he was making when he started.

He said many of his friends had experienced similar earnings erosion.

US President Donald Trump insisted Thursday that he could force out the independent head of the Federal Reserve, Jerome Powell, once again attacking the central bank chief for his policy on interest rates.

"He'll leave if I ask him to, he'll be out of there," Trump told reporters. "I'm not happy with him. I let him know it and if I want him out, he'll be out of there real fast, believe me."