‘Resetting the desk’: Trump says he won’t pause tariffs as markets reel

US President Donald Trump stated on Monday that he has no plans to pause his aggressive tariff technique, regardless of mounting strain from plunging monetary markets and enterprise leaders urging a rethink. “We’re not looking at that,” he advised reporters when requested whether or not he may think about halting newly introduced tariffs to permit room for negotiation.
Trump insisted that negotiations with different nations had been nonetheless taking place, however on his phrases. “We have many, many countries that are coming to negotiate deals with us. And they’re going to be fair deals,” he stated. “In certain cases, they’re going to be paying substantial tariffs.” Sitting beside Israeli Prime Minister Benjamin Netanyahu in the Oval Office, Trump confirmed that he had spoken with the Japanese prime minister earlier in the day, calling it a “very good conversation.”
Trump additionally added that he is contemplating ‘everlasting tariffs’ on some nations, “It There can be permanent tariffs, and there can also be negotiations because there are things that we need beyond tariffs.”

Earlier, Trump had doubled down on the chance of additional penalties towards China, warning, “If China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th.” The new measures would elevate general U.S. tariffs on Chinese items to a staggering 104%.
Despite Wall Street’s hopes for a pause, Trump remained unmoved. A false report earlier in the day that he may freeze tariff implementation briefly despatched shares hovering, just for them to tumble once more after the hearsay was denied by the White House. “Fake news,” stated a White House spokesperson.
Markets reel as tariff fears deepen
The S&P 500 slipped into bear market territory on Monday, falling greater than 20% from its current peak as buyers braced for a chronic commerce warfare. The Dow Jones Industrial Average dropped 349 factors, whereas the Nasdaq composite ended the day barely greater, reflecting wild swings all through buying and selling.
Stocks briefly rallied after rumours of a 90-day tariff pause, solely to fall sharply once more when Trump confirmed he wouldn’t soften his stance. “Sometimes you have to take medicine to fix something,” he stated over the weekend.
Oil costs dipped under $60 a barrel, Bitcoin slumped under $79,000, and markets in Asia had been battered, with Hong Kong struggling its worst single-day loss since 1997. Despite the chaos, Trump remained defiant: “Be strong, courageous, and patient, and GREATNESS will be the result!”