US politics live: Economists say Donald Trump ‘burnt it all down’ with global tariffs

Economists around the globe are circling around the dumpster fire, warning that America’s new policies risk a lot more than a shaky week for the markets.

Welcome to our live coverage of US politics.

President Donald Trump is sticking to his tariff guns, shutting down “fake news” reports Washington would delay their enforcement for 90 days to allow for negotiations with other countries.

“We’re not looking into that. We have many, many countries that are coming to negotiate deals with us,” Mr Trump said.

He also said the US would slap a further 50 per cent tariffs on China after Beijing announced reciprocal tariffs of 34 per cent on America. That would see many Chinese products coming into the US being tariffed at 104 per cent.

“If China does not withdraw its 34 per cent increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50 per cent, effective April 9th,” Mr Trump threatened in a post on his Truth Social Platform.

“Additionally, all talks with China concerning their requested meetings with us will be terminated!”

Read on for more updates.

Originally published as US politics live: Economists say Donald Trump ‘burnt it all down’ with global tariffs