Trade Negotiations an Opportunity to 'Right Size' Tariffs: Terry Haines
April 10, 2025
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9:53Now PlayingTrade Negotiations an Opportunity to 'Right Size' Tariffs: Terry Haines
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as posted by the channelTerry Haines, founder of Pangaea Policy, says Trump's pause on reciprocal tariffs gives him the chance to "right size" trade relationships and reassure allies.
President Donald Trump said his tariffs may cause “transition problems” but expressed confidence in his plan, after the White House clarified US tariffs on China rose to 145%.
“There’ll be a transition cost, and transition problems, but in the end it’s going to be a beautiful thing,” Trump said Thursday during a Cabinet meeting. “We’re in very good shape.”
The staggering US tariffs on the world’s second largest economy have triggered a tit-for-tat trade war that has unnerved global financial markets. Stocks fell on Thursday one day after the biggest buying spree in years. The S&P 500 Index sank more than 6%, before paring losses, as euphoria gave way to unease with investors bracing for more trade hostility.
Trump pointed to Wednesday’s upswing after he announced a 90-day pause on higher tariffs on dozens of trading partners, saying “we had a big day yesterday.” He later told reporters he had not seen Thursday’s market numbers.
Treasury Secretary Scott Bessent cited lower oil prices, a successful bond sale and better-than-expected inflation figures, while dismissing the significance of Thursday’s selloff.
“Look, the up two down one is not a bad ratio,” Bessent said, adding that he did not “see anything unusual today.”
Trump told a reporter he thought the first deals are “very close” and voiced optimism that China would eventually come to the table. He also indicated willingness to be “flexible” on exemptions for companies or countries from the tariff regime, including on the 10% floor he’s established for all trading partners.
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