Trump rates live updates: US president is likely to announce pharmaceutical rates | Mint

US President Donald Trump’s fresh set of tariffs was taken into effect on Wednesday, April 9, 2025, as the world prepared for the next phase of the ongoing tariff war between the United States and other world countries. China, on April 9, announced that they will again raise the rates on all goods imported from the United States to 84 percent, compared to the previous levels of 34 percent, with effect from April 10, the CNBC news agency reported. This comes after the White House increased the total rates on China to 104% on April 8. Trump, on April 8, also announced that the United States will soon announce a ‘big tariff’ over pharmaceutical imports to the Western country. “We will rate our pharmaceutical products … We will announce a big tariff on pharmaceutical products very short,” Donald Trump said at the event on April 8. The pharmaceutical sector is exempt from the US rates announced last week, which will come into effect on Sunday, April 6. Then they will announce a 50% fresh set of rates on all Chinese imports to the US. China did not comply with the prescriptions on Tuesday, April 8, and announced on Tuesday, April 8, that they imposed an additional 50 percent rate on China, increasing total rates at 104 percent. “It was a mistake for China to retaliate. If America is beaten, he strikes back harder. That’s why 104 percent rates will take effect on China tonight … If China reaches out to make an agreement, he will be incredibly gracious, ‘said Karoline Leavitt, the White House press secretary on April 8. These US-China clashes on other rates began after Donald Trump got up. Nations in the world, including China, on April 2, Donald Trump’s ‘Liberation Day’. The Asian nation then returned to Trump’s movement by announcing additional rates on all US imports on April 4. This exchange between the two of the most powerful countries in the world has caused a sense of fear among global market investors, which eventually led to a global stock market accident because people rushed to the safe Haven assets with fear of an upcoming economic recession. Apart from China, Trump also imposed a ‘baseline’ tariff of 10 percent on countries, which came into effect on Saturday, April 5, following the US stock market collapse on Friday. In his speech, the US president also imposed rates on 180 countries last week, which will come into effect today, April 9. However, on April 8, Trump also mentioned in his Truth Social Post that the US government works with nations that want to negotiate tailored to trade transactions. “We manage a large amount of negotiations requests …” said President Donald Trump. The world markets world markets dropped again on Wednesday after a temporary rest on the news that the White House imposed a total of 104% on China after the Asian people did not remove the additional 34% tariff on the import of US goods. On the Asian market front, the Nikkei 225 index of Japan lost 3.93% or more than 1,200 points, and closed at 31,714.03, compared to 33,012,58 points on the previous market. Asia Dow Index also lost 2.12%, which currently traded at 3,651,66 points from 7:10 am (EDT), compared to 3,730,62 points at the previous closure. In contrast, however, the Hong Kong-based Hang Seng index closed 0.68% at 20,264.49 points, compared to 20,127,68 points at the previous stock market. European markets crashed after opening on Wednesday, with the UK-based FTSE 100 currently 2.46% lower at 7,717,55 points from 11:57 pm (BST), compared to 7,910.53 points in the previous closure. The German DAX index was also dropped by 2.45% and traded by 19,785.41 points, compared to 20.280.26 points at the previous trading. From 16:43 o’clock (IST), the Dow Jones futures are 615.60 points or 1.64% at 37.030 points, before the Wall Street opens on Wednesday 9 April. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions.