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Trump softens tariff tone amid empty shelves warning, market slump

chain store ceo's meet with TrumpExecutives from three of America’s biggest retail chains warned President Donald Trump that things could get ugly if his aggressive economic agenda proceeds as planned, according to a new report from Axios.

During a private meeting in the Oval Office on Monday, the CEOs of Walmart, Target and Home Depot reportedly told the president that supply chains could freeze and prompt stores’ shelves to go barren if he doesn’t rein in his sharp tariff plans, and meddles with the Federal Reserve.

“The big box CEOs flat out told him the prices aren’t going up, they’re steady right now, but they will go up,” an administration official familiar with the meeting told Axios. “And this wasn’t about food. But he was told that shelves will be empty.”

According to a separate official briefed on the meeting, Trump was told that if he doesn’t change course, the impact could be noticeable in as little as two weeks.

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Trump's China Tariff Shocks U.S. Importers. One CEO Calls It 'End Of Days.'

Rick Woldenberg thought he had come up with a sure-fire plan to protect his Chicago-area educational toy company from President Donald Trump’s massive new taxes on Chinese imports.

“When he announced a 20% tariff, I made a plan to survive 40%, and I thought I was being very clever,” said Woldenberg, CEO of Learning Resources, a third-generation family business that has been manufacturing in China for four decades. “I had worked out that for a very modest price increase, we could withstand 40% tariffs, which was an unthinkable increase in costs.”

His worst-case scenario wasn’t worst-case enough. Not even close.

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Trump pauses reciprocal tariffs for 90 days, ups China's levy to 125%

tariff warPresident Donald Trump on Wednesday − in the latest twist of the tariff saga that has roiled financial markets for days − said he was authorizing a 90-day pause in reciprocal fees while raising China's levy to 125%.

China and the European Union earlier had unveiled stiff retaliation levies aimed at counteringTrump's tariff blitz, while an unfazed Trump urged global companies to set up shop in the U.S.

The Chinese Finance Ministry announced 84% tariffs on U.S. goods starting Thursday, up from the 34% previously announced.

“If the U.S. insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end,” the Ministry of Commerce wrote in a document released Wednesday.

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Trump threatens additional 50 percent tariff on China

Xi JinpingPresident Trump on Monday threatened to impose a 50 percent tariff on imports from China, a massive escalation of a potential trade war between the world’s two largest economies.

Trump’s threat is the latest tit for tat between the U.S. and China in the last week. The White House last Wednesday announced it would impose a 34 percent tariff on Chinese imports as part of “reciprocal” tariffs against dozens of countries.

Beijing responded by announcing a 34 percent tariff on American imports, leading to Trump’s warning on Monday.

Trump said in a post on Truth Social that China made the move, “despite my warning that any country that Retaliates against the U.S. by issuing additional Tariffs, above and beyond their already existing long term Tariff abuse of our Nation, will be immediately met with new and substantially higher Tariffs, over and above those initially set.”

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Trump tariffs live updates: China retaliates with 34% tariff as Trump digs in, vows to 'never change' policies

tariffs startPresident Trump has played down the shock impact of his tariff shift on markets, which kept spiraling downward on Friday as fears for the global economy grew.

US trading partners have vowed to retaliate after Trump ended months of suspense on Wednesday by revealing broad reciprocal duties on all countries, in what he has referred to as "Liberation Day." On Friday, China announced it will impose countermeasures against the US starting April 10, including a 34% tariff on US goods.

Trump's administration is imposing a baseline tariff of 10% across all countries beginning at 12:01 a.m. on Saturday. The US is upping those duties for various partners whom he described as bad actors starting next Wednesday, April 9.

Trump vowed to "never change" his policies on Friday, even as he touted progress with Vietnam, a country set to see one of the biggest US tariff hits.

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White House defends not including Russia, North Korea on tariffs

trumpThe White House on Thursday defended its decision to not include Russia, North Korea, Cuba or Belarus in the latest round of tariffs, which targeted dozens of global trading partners that were labeled the “worst offenders” when it came to trade barriers.

A White House official told The Hill in a statement that the four nations “are not subject to the Reciprocal Tariff Executive Order because they are already facing extremely high tariffs, and our previously imposed sanctions preclude any meaningful trade with these countries.”

The official added that Trump has “recently threatened to impose strong sanctions on Russia” to further explain leaving out Moscow.

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Dow sheds 1,700 points. S&P 500 and Nasdaq have worst day since 2020 on tariff worries

Stock MarketU.S. stock losses closed sharply lower, with the blue-chip Dow losing nearly 1,700 points and the broad S&P 500 tumbling about 275 points, after President Donald Trump unveiled his tariff plan late Wednesday.

Trump announced sweeping tariffs of at least 10% on all countries, effective April 5, and even higher levies for some countries to start soon. Some of China's neighbors and biggest trading partners such as Bangladesh, Vietnam, Laos and Cambodia were slapped with the highest tariffs. Some multinational companies have moved their supply chains to these countries as they looked to diversify away from China.

Shares of companies like Walmart, Target, Five Below, Gap, Dollar Tree and Amazon that import a bulk of their goods from Asia dropped.

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