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On April 9, Trump ratcheted up pressure on China, raising the import duty to 125%, even as he announced a 90-day pause on reciprocal tariffs for dozens of other trade partners.

Facing a global market meltdown, President Donald Trump on April 9 abruptly backed down on his tariffs on most nations for 90 days, but raised his tax rate on Chinese imports to 125%.

As tariff-spooked shoppers begin pulling back on spending, Walmart is prepping for a worsening economy by using its massive footprint to keep prices low and hunt for ways to take market share.

The European Union approved tariffs to hit around $23.2 billion of U.S. goods in retaliation for the 25% duties President Donald Trump imposed last month on steel and aluminum exports.

China again vowed to “fight to the end” April 9 in an escalating trade war with the U.S. as it announced it would raise tariffs on American goods to 84% from April 10.

Trump’s tariffs are rattling U.S. consumers, who are stocking up on everything from cars to olive oil and iPhones. The behavior offers some good news for scrambling businesses.

Hopes for President Donald Trump to strike a last-minute deal with China on tariffs appeared distant.

Daimler Truck North America sold 38,992 trucks and buses in Q1 2025, a decrease of 16% compared with 46,229 vehicles in the same period in 2024, parent company Daimler Truck said April 8.

President Donald Trump rejected an EU proposal to drop tariffs on all bilateral trade in industrial goods with the U.S., meaning that his 20% tariff on all EU imports is effective April 9.

China said April 8 it would “fight to the end” and take countermeasures to safeguard its own interests after President Donald Trump threatened an additional 50% tariff on Chinese imports.