Global News Podcast Trump recognises tariff 'transition problems'
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Apr 11, 2025 
John Sudworth, a reporter closely following President Trump's cabinet meetings, shares insights on the market turmoil resulting from the administration's hefty 145% tariff on China. Erin Delmore, North America's business correspondent, elaborates on how these tariff changes shake up economic forecasts. The discussion dives into the global ramifications of these trade tensions, the trickle-down effects on international alliances, and even a surprising luxury fashion deal with Prada's acquisition of Versace.
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Trump Acknowledges Tariff Troubles
- Donald Trump admitted to "transition problems" caused by his tariff policies, despite praising his trade deals.
- This follows market turmoil after tariffs were imposed on China, prompting retaliatory tariffs and global concern.
Clarification on China Tariff
- The White House clarified that the tariff on China is 145%, including a previous 20% tariff related to fentanyl.
- This clarification caused further stock dips, adding to the sell-off fueled by uncertainty about the cost of goods.
China's View on Trade War
- Chinese media portrays the US tariff gamble as a losing move, while China is prepared for the impact.
- They emphasize China's quick response and supportive measures, learning from the 2018 trade war.