Jaguar Land Rover is pressing "Pause" on US exports as Donald Trump's 10% base rates "starting | 10 Key Highlights | Mint

Trump tariffs: US President Donald Trump’s “baseline” tariffs came into effect worldwide on Saturday, April 5 as tensions rise over the increasing trade war between the United States and other countries. According to several media reports, the initial rates of 10 percent “baseline” came into effect for US airports, ports and custom warehouses at 12:01 p.m. (EDT) on Saturday, April 5. Australia, Britain, Colombia, Argentina, Egypt and Saudi Arabia are among the first nations to hit 10 percent at the 10 percent rates. Here are ten highlights from the ongoing trade war 1. Trump’s response to the stock market collapse: US President Donald Trump scored US rates on other countries on Saturday, even after the stock market collapse, which wiped out more than $ 5 billion in the market cap, the biggest decline since the Covid-19 pandemic. Trump called it a ‘$ 5 trillion investment’ and ‘economic revolution’, and Trump reassured the people of America and investors to hang through this phase ‘tough’, which he believes will not be easy. Donald Trump intends to raise America again with this tariff war. 2. Jaguar Land Rover ‘Pause’ Dispensions: After the announcement of the reciprocal rates, British Tata group manufacturer Jaguar Land Rover, in a statement quoted by AFP, said they set a ‘break’ on their consignments to the United States as the ‘new trading conditions’. “The US is an important market for JLR’s luxury brands. While we are working to address the new trading conditions with our business partners, we are taking our short-term actions, including a shipping in April, as we develop our plans for the middle to longer term,” the company said in a statement, as in the agency report. 3. China’s response to market accident: Earlier Saturday, the Chinese Foreign Ministry responded to the US stock market, saying that the United States should stop doing the “wrong things” and work to solve its differences with its trading partners. “Now is the time that the US stops doing the wrong things and solving the differences with trading partners through equal feet,” spokeswoman Guo Jiakun said in a Facebook post. China also named the reciprocal rates of Donald Trump as ‘unproven and unjustified’. 4. 10% rates on UK products: Donald Trump’s 10 percent rates on British products also came into effect on Saturday, just after the global stock markets and investors still showed signs of concern about the increasing trade war between the US and other world countries. FTSE 100 dropped on Friday, along with the Dow Jones, which dropped more than 2200 points. The US markets have been witness to the biggest decline since the world was hit by the pandemic in 2020. 5. The US President on Fed Rate Cuts: Donald Trump on Friday called on US Federal Reserve chairman Jerome Powell 6. China’s 34% Additional rates: China on Friday announced 34 percent additional rates on all imports from the United States as a counter -operation against US President Donald Trump’s reciprocal tariff announcement on April 2. The additional rates from China will be in effect from April 10. “The purpose of the Chinese government’s implementation of export control and to be in accordance with the legislation is to better secure, national security and interest, and interest, and to be better in the laws, as the law is better to secure national security, and to be better, and to fulfill the laws,” the China’s Ministry said. 7. India in discussions with us about trade transactions: India, along with two other countries, Israel and Vietnam, are searching fast-track trading on the rate date. The nations are trying to negotiate a customized trade agreement with the United States. 8. Minister of Italian economy warns retaliation: The Minister of Economics of Italy, Giancarlo Giorgetti, on Saturday, April 5, warned that they were