Trump -Tariffs Farel Wild Market Swings: Live Updates

“We don’t look at that,” said Mr. Trump, when he was asked for a possible break at his rates. “We’re going to have one shot on this and no other president is going to do what I do.”

Mr. Trump began to sign the day by signing new combat lines about his so -called mutual rates, which he intends to impose on certain countries after midnight on Wednesday. The taxes that can reach if high as 46 percent For some countries, just a few days after the president imposed a minimum 10 percent levy on almost every US trading partner.

Mr. Trump was specifically aimed at China, which announced last week that it would match the United States by imposing a Retaliation of 34 percent tax About import from America. In a post about Truth Social, the President, the President demanded That Beijing have retracted or have confronted an additional 50 percent US rate from 9 April. He also threatened to stop further negotiations.

The escalation could bring the American rate on Chinese goods to 104 percent, although for some products the rate will probably be much higher due to taxes that date from Mr Trump’s first term. In summary, it can be expensive for importers who bring in clothing, mobile phones, chemicals and machines from China. American consumers bought $ 440 billion in goods from China last year, making it the second largest source of American import after Mexico.

Mr. Trump linked his ultimatum to China with a promise to issue punishing, extra rates for other American trading partners if they try to coordinate his policy in the same way. But his attacks did not seem to discourage some opponents, including the European Union, where officials willing to circulate A list of American products that they can soon subject to retribution.

With the worldwide tensions, Mr. Trump’s strategy caused another day of unease on Wall Street. The S&P 500 fell by 0.2 percent, now nearly 18 percent below the Middenfebruari peak. The technically heavy Nasdaq Composite Index, which also saw dramatic fluctuations all day, ended a little higher.

In a sign of frustration of investors about the rates, an incorrect news item earlier on the day, which suggests that the president could pause his trade war, led to an immediate rally – only to see shares that basket again just as quickly, after the White House had not been clear in the offing.

Nevertheless, administration officers seemed to leave the door open for negotiations that could ultimately make the trade war harmless, with reference to the fact that more than 50 countries – including, most recently, Israel, Japan and Vietnam – had approached the US government to close deals in recent days. After a visit to the President in the White House, the Israeli Prime Minister Benjamin Netanyahu promised on Monday that his country would “eliminate the trade deficit with the United States”, while other trade barriers “rather quickly” reduce.

But the White House civil servants have tried to set a high bar for what the president is willing to accept, which marks a change of tone after Mr Trump and his assistants initially indicated that they would not negotiate rates at all.

“If they come to us with really great offers that benefit American production and American farmers, I am sure he will listen,” said Kevin Hassett, the director of De Witte Huis National Economic Council, in an interview about FOX News.

Mr. Hassett said that some countries had suggested “some deals that are great”, but added to the president: “After decades and decades of mistreatment of American employees, it will be difficult to make him decide to really come to the table and draw the dotted line.”

Peter Navarro, a senior trade consultant of the White House, specifically said that other countries had to do more than their own rates to guarantee exemption from the United States. He appeared on CNBC and called the need to reduce “cheating” and other barriers that limit American goods in foreign markets.

And Stephen Miran, the head of the White House Council of Economic Advisers, said that offers from abroad would “be welcomed by the United States.” He added at an event in Washington that the president “had been very clear that we want more access to foreign markets that would stimulate our exports.”

With apparently no end to the trade war in sight, economists were left again to struggle with the prospect that high rates could increase prices for consumers, slow down the growth of American growth and the country could match in a recession. Rates are taxes on imports that companies can pay to afford, which may result in those companies that pass on the new costs to customers.

Jay Foreman, the Chief Executive of Toy Company Basic Fun, called the new threat of the president against China ‘released’.

Mr. Foreman said he had just set up all the shipments of his products from Asia. “I cannot run the risk of placing any product on the water that could currently increase a rate of 54 percent to 104 percent,” he said. “It is one thing to try to absorb or pass 10 percent to 20 percent, but 54 percent to 104 percent, it is impossible. The consumer will simply be closed.”

Jeanna Smialek And Danielle Kaye contributed reporting.