Jaguar Land Rover pauses shipments to US as Trump says influence of tariffs ‘gained’t be simple’ – dwell | Trump tariffs

Key occasions

Keir Starmer and Emmanuel Macron mentioned their “issues concerning the world financial and safety influence, significantly in South East Asia” within the wake of Donald Trump’s tariffs, Starmer’s workplace stated.

The UK’s prime minister spoke to the French president on Saturday, the most recent in a sequence of calls with world leaders following the announcement of the US levies.

Issuing a readout of the decision, a Downing Avenue spokesperson stated: “The prime minister spoke with President Macron following this week’s announcement that the US will impose extra tariffs. They agreed {that a} commerce battle was in no one’s pursuits however nothing must be off the desk and that it was vital to maintain enterprise up to date on developments.

“The prime minister and president additionally shared their issues concerning the world financial and safety influence, significantly in South East Asia.

“Following discussions between navy planners in Ukraine this week, they mentioned the great progress that has been made on the Coalition of the Prepared.

“The prime minister and president agreed to remain in shut contact over the approaching weeks.”

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Up to date at 11.19 EDT

Abstract of the day thus far

Here’s a abstract of the most recent developments thus far:

Donald Trump on Saturday doubled down on the sweeping tariffs he unleashed on international locations world wide, warning People of ache forward, however promising historic funding and prosperity. “We’ve got been the dumb and helpless ‘whipping submit,’ however not any longer. We’re bringing again jobs and companies like by no means earlier than,” Trump wrote on his Fact Social platform. “That is an financial revolution, and we are going to win,” he added. “Cling robust, it gained’t be simple, however the finish end result can be historic.”

Trump’s 10% tariff on UK merchandise got here into pressure on Saturday, as world inventory markets continued to fall in response to the imposition of import taxes. The FTSE 100 plummeted on Friday in its worst day of buying and selling because the begin of the pandemic whereas markets on Wall Avenue additionally tumbled. Australia, Colombia, Argentina, Egypt and Saudi Arabia are additionally among the many international locations first hit with the ten% tariff.

The preliminary 10% “baseline” tariff took impact at US seaports, airports and customs warehouses at 12.01am ET (0401 GMT). Many different international locations will see their tariff charges improve above that subsequent week – together with the EU, which can be hit with a 20% charge. A 25% tariff imposed on all overseas vehicles imported into the US got here into impact on Thursday.

Jaguar Land Rover (JLR) has confirmed it’ll “pause” shipments to the US in April as it really works to “tackle the brand new buying and selling phrases” of Donald Trump’s tariffs.

The UK prime minister, Keir Starmer, is predicted to spend the weekend chatting with overseas leaders concerning the tariffs, after calls with the prime ministers of Australia and Italy on Friday wherein the leaders agreed {that a} commerce battle could be “extraordinarily damaging”.

Downing Avenue stated that Starmer had “been clear the UK’s response can be guided by the nationwide curiosity”. A spokesperson stated officers will “calmly proceed with our preparatory work, somewhat than rush to retaliate”.

Ralph Goodale, the excessive commissioner for Canada within the UK, informed the BBC’s Radio 4 At present programme on Saturday that “motion taken by the US authorities is totally illogical”. He added: “It can harm america itself.”

The Italian economic system minister, Giancarlo Giorgetti, warned on Saturday towards the imposition of retaliatory tariffs on the US in response to Trump’s announcement of sweeping tariffs on commerce companions. Talking at a enterprise discussion board close to Milan, Giorgetti stated Italy was aiming for a “de-escalation” with the US. “We should always keep away from launching a coverage of counter-tariffs that could possibly be damaging for everybody and particularly for us,” Giorgetti stated.

The inventory market plunge has extra to do with the emergence this yr of China’s DeepSeek synthetic intelligence software than with Trump’s insurance policies, the US treasury secretary, Scott Bessent, stated in an interview launched on Friday that signaled little concern concerning the ongoing nosedive. “For everybody who thinks these market declines are all primarily based on the president’s financial insurance policies, I can inform you that this market decline began with the Chinese language AI announcement of DeepSeek,” Bessent informed former Fox Information host Tucker Carlson.

Bangladesh’s interim chief referred to as an emergency assembly on Saturday after textile leaders on the earth’s second-largest garment manufacturing nation stated US tariffs had been a “huge blow” to the important thing business. Trump on Wednesday slapped punishing new tariffs of 37 % on Bangladesh, rising duties from the earlier 16% on cotton and 32% on polyester merchandise.

The Israeli prime minister, Benjamin Netanyahu, is predicted to go to the White Home on Monday to debate lately introduced tariffs with Trump, three Israeli officers stated on Saturday. As a part of a sweeping new tariff coverage introduced by Trump, unspecified Israeli items exports to the US face a 17% tariff.

China has taken and can proceed to take resolute measures to safeguard its sovereignty, safety and improvement pursuits, the overseas ministry stated on Saturday, citing a Chinese language authorities stance on opposing US tariffs. The US ought to “cease utilizing tariffs as a weapon to suppress China’s economic system and commerce, and cease undermining the reliable improvement rights of the Chinese language folks,” the ministry stated.

Nissan Motor is contemplating shifting some home manufacturing of US-bound autos to the US, the Nikkei reported on Saturday. As early as this summer season, Nissan plans to scale back manufacturing at its Fukuoka manufacturing unit in western Japan and shift some manufacturing of its Rogue SUV to the US to mitigate the influence of Trump’s tariffs, the enterprise newspaper stated, with out citing the supply of its data.

The president of Taiwan, Lai Ching-te, met tech executives on Saturday to debate how to reply to new US tariffs, promising to make sure Taiwan’s world competitiveness and safeguard its pursuits. Lai met the executives at his official residence to debate the response to “the worldwide financial and commerce challenges led to by the reciprocal tariff coverage”, his spokesperson Karen Kuo stated in a press release. She didn’t say which corporations had been current, solely that there have been a number of representatives from the knowledge and communications know-how, or ICT, business.

“At present, America isn’t solely humiliating Iran, but additionally the world,” the Iranian president, Masoud Pezeshkian, stated on Saturday, in an obvious reference to current insurance policies adopted by Trump, together with imposing tariffs on imported items. Pezeshkian stated his nation was prepared to interact in dialogue with the US as equals, with out clarifying whether or not Tehran would take part in direct talks.

China has stated “the market has spoken” in rejecting Trump’s tariffs, and referred to as on Washington for “equal-footed session” after world markets plunged in response to the commerce levies that drew Chinese language retaliation. Trump launched extra 34% tariffs on Chinese language items as a part of steep levies imposed on most US commerce companions, bringing the entire duties on China this yr to 54%.

Away from tariff information, left-leaning organisations within the US say that greater than 500,000 individuals are anticipated to take to the streets to protest in Washington DC, Florida and elsewhere across the nation on Saturday to oppose Donald Trump’s “authoritarian overreach and billionaire-backed agenda”. MoveOn, one of many organisations planning the day of protest they’re calling Palms Off together with dozens of labor, environmental and different progressive teams, stated that greater than 1,000 protests are deliberate throughout the US, together with at state capitols.

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Up to date at 10.57 EDT

The inventory market plunge has extra to do with the emergence this yr of China’s DeepSeek synthetic intelligence software than with Donald Trump’s insurance policies, the US treasury secretary, Scott Bessent, stated in an interview launched on Friday that signaled little concern concerning the ongoing nosedive, reviews Reuters.

“For everybody who thinks these market declines are all primarily based on the president’s financial insurance policies, I can inform you that this market decline began with the Chinese language AI announcement of DeepSeek,” Bessent informed former Fox Information host Tucker Carlson.

“If I had been to analyse in my outdated hat, and that is the one time I’m going to speak about it … what’s taking place with the market I’d say it’s extra a Magazine 7 downside, not a Maga downside,” Bessent, who ran a hedge fund till being tapped as treasury secretary by Trump, stated.

“Magazine 7” refers back to the shares of the “Magnificent 7” – a bunch of seven high-performing tech shares that had helped drive the market greater earlier than its current selloff. Maga refers to Trump’s “Make America nice once more” political slogan.

US shares have tumbled by about 10% within the two days after Trump introduced a brand new world tariff regime that was extra aggressive than analysts and buyers had been anticipating.

It’s a drop that market analysts and huge buyers themselves have laid on the ft of Trump’s aggressive push on tariffs, which most economists and the top of the Federal Reserve imagine threat stoking inflation and damaging financial progress, reviews Reuters.

Shares did take successful in late January when Chinese language startup DeepSeek launched a free AI assistant that it says makes use of much less knowledge at a fraction of the price of incumbent companies. It resulted in a report one-day lack of practically $600bn in worth from the shares of AI chipmaker Nvidia, one of many “Magnificent 7”. However the market quickly discovered its footing once more and by mid-February, the benchmark S&P 500 index had regained a record-high stage.

Then shares turned south once more beginning in late February after a broadly adopted survey of shoppers confirmed households rising broadly pessimistic concerning the economic system’s prospects and fearful that Trump’s push for tariffs would drive up inflation, reviews Reuters.

A raft of different surveys of companies and shoppers since then have flagged related issues, and different knowledge has proven the tempo of exercise has slowed over the course of the primary quarter of 2025. The S&P has misplaced practically 14% since 19 February, and practically $10tn of US inventory market worth has been erased.

The US commerce secretary, Howard Lutnick, has been dismissive of the drop as nicely.

Trump himself on Friday retweeted a social media submit bearing the caption “Trump is Purposely CRASHING The Market” and that includes photographs of the president pointing at a big downward crimson arrow and of him signing govt orders on the White Home.

In the meantime, Bessent additionally informed Carlson the administration retains a “sturdy greenback” coverage and dismissed assertions by some analysts that the tariff drive was a deliberate effort to weaken the greenback to make US items extra aggressive on world markets.

“Nobody ought to take heed to anybody within the markets speak concerning the US greenback aside from President Trump or myself,” Bessent stated. “We’re the one ones that talk for this administration, america authorities on greenback coverage.”

“We’ve got a strong-dollar coverage and we’re placing in the entire crucial components to verify the greenback is powerful over the long term,” he stated.

The greenback has shed practically 6% of its worth towards main buying and selling companions’ currencies since Trump’s inauguration on 20 January, reviews Reuters.

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Up to date at 10.34 EDT

‘Cling robust, it gained’t be simple’: Trump defiant on tariffs

Donald Trump on Saturday doubled down on the sweeping tariffs he unleashed on international locations world wide, warning People of ache forward, however promising historic funding and prosperity.

The feedback got here because the US president’s widest-ranging tariffs took impact in a transfer that might set off retaliation and escalating commerce tensions that might upset the worldwide economic system.

“We’ve got been the dumb and helpless ‘whipping submit,’ however not any longer. We’re bringing again jobs and companies like by no means earlier than,” Trump wrote on his Fact Social platform, Agence France-Presse (AFP) reviews.

“That is an financial revolution, and we are going to win,” he added. “Cling robust, it gained’t be simple, however the finish end result can be historic.”

A ten% “baseline” tariff got here into place simply after midnight, hitting most US imports besides items from Mexico and Canada as Trump invoked emergency financial powers to deal with perceived issues with the nation’s commerce deficits.

The commerce gaps, stated the White Home, had been pushed by an “absence of reciprocity” in relationships and different insurance policies like “exorbitant value-added taxes”.

Come 9 April, about 60 buying and selling companions – together with the European Union, Japan and China – are to face even greater charges tailor-made to every economic system.

Already, Trump’s sharp 34percenttariff on Chinese language items, to kick in subsequent week, triggered Beijing’s announcement of its personal 34% tariff on US merchandise from 10 April.

Beijing additionally stated it will sue the US on the World Commerce Group (WTO) and limit the export of rare-earth parts utilized in high-end medical and electronics know-how.

“China has been hit a lot tougher than the USA, not even shut,” Trump stated in his submit. “They, and plenty of different nations, have handled us unsustainably badly.”

However different main buying and selling companions held again as they digested the unfolding worldwide standoff amid fears of a recession.

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Up to date at 10.31 EDT

On the subject of clothes and Donald Trump’s tariffs, my colleague, the Guardian’s deputy trend and way of life editor, Chloe Mac Donnell, has written about how from farmers to designers, the complete trend provide chain can be hit. It’s unclear what duties apply to a completed product, she writes on this piece:

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Up to date at 10.34 EDT

Main garment producer Bangladesh holds disaster talks on US tariffs

Bangladesh’s interim chief referred to as an emergency assembly on Saturday after textile leaders on the earth’s second-largest garment manufacturing nation stated US tariffs had been a “huge blow” to the important thing business, reviews Agence France-Presse (AFP).

Textile and garment manufacturing accounts for about 80% of exports in Bangladesh, and the business has been rebuilding after it was laborious hit in a revolution that toppled the federal government final yr.

Donald Trump on Wednesday slapped punishing new tariffs of 37 % on Bangladesh, rising duties from the earlier 16% on cotton and 32% on polyester merchandise.

Bangladesh exports $8.4bn of clothes yearly to the US, in line with knowledge from the Bangladesh Garment Producers and Exporters Affiliation (BGMEA), the nationwide commerce physique. That totals about 20% of Bangladesh’s complete ready-made clothes exports, reviews afp.

“Chief adviser Prof Muhammad Yunus has convened an emergency assembly … to debate the US tariff concern,” a authorities assertion learn, with the assembly to happen late Saturday within the capital, Dhaka. High specialists, advisers and officers will attend, it added.

Bangladesh’s tax authority, the Nationwide Board of Income, can be anticipated to fulfill to evaluation the fallout from the tariffs.

Rakibul Alam Chowdhury, chair of RDM Group, a significant producer with an estimated $25m turnover, stated on Thursday that the business would lose commerce. “Patrons will go to different cost-competitive markets – that is going to be an enormous blow for our business,” he stated.

A number of garment factories produce clothes for the US market alone, report AFP. Anwar Hossain, administrator of the BGMEA, has informed AFP that the business was “not prepared” for the tariff influence.

Bangladesh, the second-largest producer after China, manufactures clothes for world manufacturers – together with for US corporations corresponding to Hole Inc, Tommy Hilfiger and Levi Strauss.

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Up to date at 10.35 EDT

Jaguar Land Rover to pause shipments to the US as it really works to ‘tackle new buying and selling phrases’

Jaguar Land Rover (JLR) has confirmed it’ll “pause” shipments to the US as it really works to “tackle the brand new buying and selling phrases” of Donald Trump’s tariffs, reviews the PA information company.

In a press release on Saturday, a JLR spokesperson stated:

The USA is a vital marketplace for JLR’s luxurious manufacturers.

As we work to deal with the brand new buying and selling phrases with our enterprise companions, we’re taking some short-term actions together with a cargo pause in April, as we develop our mid to longer-term plans.”

Earlier on Saturday, the Instances had reported that JLR would pause shipments of its UK-made vehicles to america for a month (see 11.48am BST).

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Up to date at 10.36 EDT

“At present, America isn’t solely humiliating Iran, but additionally the world,” the Iranian president, Masoud Pezeshkian, stated on Saturday, in an obvious reference to current insurance policies adopted by Donald Trump, together with imposing tariffs on imported items.

In line with Agence France-Presse (AFP), Pezeshkian stated his nation was prepared to interact in dialogue with the US as equals, with out clarifying whether or not Tehran would take part in direct talks.

It got here after the US president, who has referred to as on Tehran to carry direct negotiations on its nuclear programme, threatened to bomb Iran if diplomacy fails.

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Up to date at 10.36 EDT

Anti-Trump protests anticipated in US at present

Away from tariff information, left-leaning organisations within the US say that greater than 500,000 individuals are anticipated to take to the streets to protest in Washington DC, Florida and elsewhere across the nation on Saturday to oppose Donald Trump’s “authoritarian overreach and billionaire-backed agenda”.

MoveOn, one of many organizations planning the day of protest they’re calling Palms Off together with dozens of labor, environmental and different progressive teams, stated that greater than 1,000 protests are deliberate throughout the US, together with at state capitols.

“That is shaping as much as be the largest single-day protest within the final a number of years of American historical past,” Ezra Levin, a founding father of Indivisible, one of many teams planning the occasion, stated on a current organizing name.

The most important occasion is predicted to be on the Nationwide Mall in Washington DC, the place members of Congress, together with the Democrats Jamie Raskin of Maryland, Maxwell Frost of Florida and Ilhan Omar of Minnesota, are scheduled to talk to crowds.

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Up to date at 08.13 EDT

China has stated “the market has spoken” in rejecting Trump’s tariffs, and referred to as on Washington for “equal-footed session” after world markets plunged in response to the commerce levies that drew Chinese language retaliation.

Trump launched extra 34% tariffs on Chinese language items as a part of steep levies imposed on most U.S. commerce companions, bringing the entire duties on China this yr to 54%.

Trump additionally closed a commerce loophole that had allowed low-value packages from China to enter the U.S. duty-free.

This prompted retaliation from China on Friday, together with further levies of 34% on all U.S. items and export curbs on some uncommon earths, escalating the commerce battle between the world’s two largest economies.

Hong Kong Monetary Secretary Paul Chan informed public broadcaster RTHK, nonetheless, Hong Kong wouldn’t impose separate countermeasures, citing the necessity for the town to stay “free and open”.

Chinese language overseas ministry spokesperson Guo Jiakun stated:

The market has spoken.

Now’s the time for the U.S. to cease doing the improper issues and resolve the variations with buying and selling companions by way of equal-footed session.

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China’s chief, Xi Jinping, says he’s ready to bop if it means sidestepping a number of the worst of Donald Trump’s commerce tariffs. Final week he despatched a letter to India’s president, Droupadi Murmu, urging her to hitch him in a tango to rejoice 75 years of ­bilateral commerce.