Big Take Asia Trump Announces Sweeping New Tariffs. What’s Next
Apr 3, 2025
Bloomberg reporter Josh Wingrove, who covers the White House, dives into President Trump's historic tariff announcement, the steepest in over a century. He discusses the staggering 10% tariffs imposed on all exporters to the U.S., with China facing duties exceeding 50%. The conversation explores the significant reshaping of global trade dynamics, potential retaliations from foreign nations, and the mixed reactions from American industries. Wingrove also highlights challenges economists face in predicting the longer-term impact on markets and consumer prices.
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Global Economic Impact
- President Trump's tariff announcement significantly impacts the global economy and markets.
- Stock futures declined during his speech.
Trump's Big Reveal
- Trump revealed the tariff rates with a large placard during the Rose Garden event.
- The announcement lacked specifics, and the rates were smaller than initially considered.
Bipartisan Trade Concerns
- There's bipartisan concern about the global trading regime's impact on U.S. sectors.
- Changing this regime too drastically could harm American manufacturers.