Donald Trump tariffs news: Trump says China 'suffering greatly' from tariffs

Trump was asked about China and stated that the leadership "wants to meet" but that they are currently doing "no business," with ships "turning around in the Pacific Ocean." He also mentioned that China's economy is "suffering greatly" due to the tariffs he has imposed, as reported by BBC.

US markets fell sharply Tuesday as concerns over new tariffs introduced by President Trump weighed on investor sentiment. The S&P 500 dropped 1.1 per cent, the Dow lost 438 points, and the Nasdaq fell 1.4 per cent.

Major companies warned of the financial toll from the tariffs. Ford scrapped its 2025 outlook, estimating a 1.5 billion US dollar hit. Mattel and Clorox also flagged uncertainty linked to trade pressures. The warnings triggered broader concerns about profit growth, especially as AI-related momentum faded. Treasury yields dipped slightly ahead of the Fed’s upcoming policy decision.

Canada's trade with the United States declined substantially in March, whilst increased overseas exports helped balance the impact at the onset of a trade dispute between the neighbouring countries, according to official data released on Tuesday.

The latest trade statistics emerged as Prime Minister Mark Carney prepared for discussions with President Donald Trump in Washington regarding tense trade and security relations.

In early March, the United States implemented broad tariffs on Canadian imports before announcing various reductions and exemptions, prompting Canada to respond with retaliatory measures.

Statistics Canada reported that exports to the United States decreased notably during the month, approximately 6.6 percent.

The national statistical agency noted that "this decrease was almost entirely offset by a strong increase in exports to countries other than the United States," highlighting a 24.8-percent rise in international shipments.

China's finance minister lashed out at US tariffs for bringing "unprecedented huge risks" to the global economy, according to an article published by his ministry on Tuesday.

The world's two largest economies are engaged in a punishing trade war in which US President Donald Trump imposed tariffs reaching 145 percent on many Chinese products and Beijing retaliated with 125 percent duties on imports from the United States.

Lan Fo'an, speaking at an Asian Development Bank (ADB) meeting in Milan that began on Sunday, did not specifically mention the United States but said the risks were the result of "a certain country (that) has launched tariff wars and trade wars".

"The current international situation is becoming more turbulent and chaotic, unilateralism and protectionism are on the rise," he said, calling on ADB members to uphold the rules of multilateral institutions.

The United States recorded its highest-ever trade deficit in March, as revealed by official government statistics released on Tuesday, with imports rising significantly before President Donald Trump's planned tariff implementation.

The total trade deficit of the world's biggest economy expanded by 14.0 percent to $140.5 billion during the month, according to the Commerce Department's official statement.

This deficit represented the largest monthly gap since records began in 1992, showing an increase of $17.3 billion from February's revised figure of $123.2 billion.
The statistics reflect the period prior to Trump's implementation of substantial tariffs on Chinese goods and reduced 'baseline' duties of 10 percent on imports from most other nations.

The administration also announced increased tariffs for numerous other trading partners, subsequently suspending them until July to allow the United States to negotiate existing trade agreements.

The March deficit exceeded analysts' expectations, surpassing the $137.6 billion median forecast from economic surveys conducted by Dow Jones Newswires and The Wall Street Journal.

The increased trade gap resulted from a 4.4 percent surge in imports to $419.0 billion, as consumers increased purchases anticipating the widely publicised tariffs.
Consumer goods showed the most significant rise among imports, with an increase of $22.5 billion in March.

Exports showed minimal growth, increasing by just 0.2 percent to $278.5 billion.

European markets opened predominantly lower on Tuesday, following mixed trading in Asia, where Chinese markets gained after resuming post-"Golden Week" holidays.
The German DAX declined 1.2% to 23,076.96, whilst the Paris CAC 40 decreased 0.6% to 7,682.91. The British FTSE 100 remained steady at 8,596.40.

S&P 500 futures dropped 0.7% and Dow Jones Industrial Average futures fell 0.5%, as traders monitored President Donald Trump's decisions regarding tariff policies.
Responding to Trump's NBC TV remarks about maintaining China tariffs, a Chinese Foreign Ministry spokesperson Lin Jian stated, "If they want to fight, we will fight to the end; if they want to talk, the door is open." He emphasised that the US should cease threats and engage in respectful dialogue.

China's Commerce Ministry indicated last week it was reviewing various US communications about potential discussions.

Chinese markets showed positive movement after the "Golden Week" break. The Shanghai Composite rose 1% to 3,311.89, and Hong Kong's Hang Seng increased 0.7% to 22,651.65.

A services sector survey in China revealed future activity at historic lows, excluding pandemic periods, indicating the impact of Trump's trade policies on the Chinese economy.

The increase in tariffs to 145% on Chinese imports to the US has significantly impacted shipping and logistics operations.

Caixin, the financial media organisation, reported: "Overall optimism among Chinese firms weakened to the lowest level since this series began in April 2012, resulting in further job cuts in April."

President Donald Trump's call to impose steep tariffs on movies "produced in Foreign Lands" came after he met at Mar-a-Lago over the weekend with actor Jon Voight, whom he named a "special ambassador" to Hollywood this year.

The president's social media post on Sunday that called for a 100% tariff on films produced outside the United States caused confusion in Hollywood, which has lost a great deal of local film and television production to states and nations that offer rich tax credits and cheaper labor. While few in the industry said that they understood Trump's proposal, some worried that tariffs could cause more harm than good and called instead for federal help in the form of tax credits.

Voight and Steven Paul, his longtime manager, met with Trump over the weekend and shared their plans to increase domestic film production, according to a statement from SP Media Group, Paul's firm. They suggested federal tax incentives, changes to the tax code, co-production treaties with other nations and infrastructure subsidies, the statement said.

Dutch medical device maker Philips reported a net profit for the first time in three quarters Tuesday despite weak sales in China but warned of "intensified" uncertainties due to tariffs.

Net profits came in at 72 million euros ($82 million), compared to a net loss of 998 million euros in the same quarter last year and 333 million euros in the fourth quarter of 2024.

"It's an encouraging start to the year," the firm's chief executive Roy Jakobs told reporters.

Jakobs predicted that the second half of the year would be stronger for the firm than the first half.

"In an uncertain macro environment that has intensified due to the potential impact of tariffs, we are focused on what we can control," he added.

The company estimated a hit of between 250-300 million euros from tariffs over the year.

Just as Japan's top trade negotiator traveled to Washington for another round of tariff talks last week, a bipartisan delegation bearing the name of “Japan-China Friendship” wrapped up a visit to Beijing.
A week earlier, the head of the junior party in Japan's ruling coalition was in Beijing delivering a letter from Japanese Prime Minister Shigeru Ishiba addressed to Chinese President Xi Jinping. Details of the letter are unknown, but the two sides discussed U.S. tariffs in addition to bilateral issues.

Among all U.S. allies being wooed by Beijing in its tariff stare-down with Washington, Japan stands out.

It is a peculiar case not only for its staunch commitment to its alliance with the United States but also for its complicated and uneasy history with the neighboring Asian giant — particularly the war history from the 20th century that still casts a shadow over the politics of today.

“On one hand, they are neighbors and they are important economic partners. There’s a lot that connects Japan and China,” said Matthew Goodman, director of the Greenberg Center for Geoeconomics at the Council on Foreign Relations. “But on the other hand, I think there are limits to how far they’re going to lean into China.”

While Japan won't walk away from its alliance with the United States, the linchpin of the Asian country's diplomacy and security policies, “it's also true that the tariffs and uncertainty that Trump has created for Japan is really shaking things up in Tokyo,” Goodman said.

Last month, President Donald Trump announced a 24% tariff on Japanese goods in a sweeping plan to levy duties on about 90 countries. The White House has since paused the tariffs but a 10% baseline duty on all countries except China, allowing time for negotiations. Still, Trump's 25% tax on aluminum, steel and auto exports have gone into effect for Japan.

The tariff moves, as well as Trump's “America First” agenda, have cast doubts among the Japanese if the United States is still a dependable ally, while China is rallying support from tariff-threatened countries — including Japan.

In Beijing, Japan sees positive signs
When Tetsuo Saito led Japan's Komeito Party delegation to Beijing in late April, China hinted at difficulty in its tariff dispute with the United States, signaling its willingness to improve ties with Tokyo. An unnamed senior Chinese official said his country was "in trouble” when discussing Trump's 145% tariff on Chinese products, according to Japanese reports.

Saito's visit was soon followed by that of the bipartisan delegation of Japan-China Friendship Parliamentarians' Union. Zhao Leji, Beijing's top legislator, told the delegation that China's National People's Congress would be “willing to carry out various forms of dialogue and exchanges."

Beijing did not lift a ban on Japan's seafood imports as the Japanese delegates hoped, but it signaled positive signs on its assessment of the safety of the discharges of treated radioactive wastewater from the Fukushima Daiichi nuclear power plant. Beijing banned Japan's seafood products in 2023, citing those concerns.

Ties between Tokyo and Beijing have long been rocky. In the past several years, they squabbled not only over the seafood ban but also long-standing territorial disputes over the Senkaku, or Diaoyu, islands in the East China Sea, Beijing's growing military assertiveness and violence against Japanese nationals in China — an issue complicated by the nations' uneasy history.

Tokyo's closer ties with Washington during Joe Biden's presidency also upset Beijing, which saw it as part of the U.S. strategy to contain China and has lectured Tokyo to “face squarely and reflect on the history of aggression.”

An imperial power in Asia for centuries, China fell behind Japan in the 19th century when Japan began to embrace Western industrialization and grew into a formidable economic and military power. It invaded China in the 1930s and controlled the northeastern territory known as Manchuria. War atrocities, including the Nanking Massacre and the use of chemical and biological weapons and human medical experiments in Manchuria, have left deep scars in China. They have yet to be healed, though Japan's conservative politicians today still attempt to deny the aggression.

Ishiba, elected Japan's prime minister in October, has a more neutral view on his country's wartime history than the late Prime Minister Shinzo Abe and his two successors. Weeks after taking office, Ishiba held talks with Xi on the sidelines of a leaders' summit.

Chinese scholars, however, see Tokyo's recent engagements with Beijing as a pragmatic move to hedge against U.S. protectionism and not a long-term strategy for stability with China.

The odds are low for Japan to move into China's orbit, Goodman said. “They have for a long time had to manage an important but challenging relationship with China," he said. “And that is, again, a long-standing problem for Japan, going back centuries or millennia.”

Seeking tariff deals and stable ties in the US
While Japan might welcome the friendlier tone from Beijing, it is trying to stabilize Japan-U.S. relations under Trump's “America First” agenda, and it is hoping to settle the tariff dispute without confronting Washington, with an eye on preventing Beijing from exploiting any fallout in Japan-U.S. relations.

Japan was among the first countries to hold tariff talks with Washington. During the first round in mid-April, Trump inserted himself into the discussions, a sign of the high stakes for the United States to reach a deal with Japan. The Trump administration reportedly pushed for Japan to buy more U.S.-made cars and open its market to U.S. beef, rice and potatoes.

After the second round of negotiation in Washington last week, Ryosei Akazawa, the country's chief tariff negotiator, said he pushed Japan's request that the U.S. drop tariffs and was continuing efforts toward an agreement acceptable to both sides. He said Japan's auto industry was already hurting from the 25% tariff and that he needed to be “thorough but fast.”

Asked about China, Akazawa said only that his country keeps watching the U.S.-China tariff development “with great interest." He noted Japan's deep trade ties with China.

Competing in Southeast Asia
While China and Japan are working to mend ties, the two are also competing in the Southeast Asia region, where Trump has threatened high tariffs as well. The region is deeply integrated into China's supply chain but under pressure from the West to diversify and reduce its reliance on China. With younger and growing populations as compared to East Asia, the region is considered an important growth center.

Japan, as a major postwar development aid contributor, has gradually regained trust in the region, which also was scarred by Japan's World War II past.

On Wednesday, Ishiba returned from Vietnam and the Philippines after agreeing with their leaders to further strengthen security and economic ties. During the visit, Ishiba stressed Japan’s commitment to maintaining and strengthening a multilateral free-trade system in each country. Ishiba also had telephone talks with his Malaysian and Singaporean counterparts earlier this month about U.S. tariffs.

Just weeks earlier, Xi was in Vietnam, Malaysia and Cambodia, also stressing free trade and seeking stronger supply chains.

At a recent discussion at the Washington-based think tank Hudson Institute, Itsunori Onodera, Japan's governing party policy chief, warned of “very unstable” feelings among many Asian countries faced with high tariffs from the United States.

“There’s a danger they might become more distant and become closer to China,” Onodera said. “This is not something that Japan wants, either.”

Hollywood reacted Monday with skepticism to US President Donald Trump's announcement of 100 percent tariffs on foreign films, with movie insiders calling it a policy made up on the fly by a president who fails to understand how the industry works.
"It makes no sense," entertainment lawyer Jonathan Handel said of Trump's idea.

Handel explained to AFP that many US productions, from James Bond flicks to the "Mission Impossible" franchise, are filmed abroad for obvious creative reasons.

"If the stunt is Tom Cruise climbing up the Eiffel Tower, what are we supposed to do, shoot at the replica Eiffel Tower in Las Vegas?" Handel said. "I mean, it's just nonsensical."

Writing Sunday on his platform Truth Social, Trump said: "I am authorizing the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100% Tariff on any and all Movies coming into our Country that are produced in Foreign Lands."

Trump added: "WE WANT MOVIES MADE IN AMERICA, AGAIN!"

His words plunged the movie industry into uncertainty, as entertainment companies saw their stock prices fall, unions struggled to understand if the bombshell also applies to TV series and everyone wondered if the policy could even be enforced.

Handel noted that movies involve intellectual property.

"You can buy a movie ticket, but you don't buy a movie the way you buy a piece of clothing or an automobile," which can be taxed as they cross a border into the United States, he said.

Even if a system could be devised to impose tariffs on movies filmed outside the United States, these levies would do more harm than good to the US industry, the lawyer added.

"The result of that would be to reduce production, to increase the cost of movies, to reduce the number of movies available for movie theaters and streamers to show, which would damage the distribution side of the business," Handel argued.

- 'Confusion' -

Unions for actors and other media and entertainment workers said they awaited more details of Trump's plan but supported the goal of increasing production of movies, TV and streaming in the United States.

"We will continue to advocate for policies that strengthen our competitive position, accelerate economic growth and create good middle-class jobs for American workers," said one such guild, SAG-AFTRA.

Many movie studios and other industry organizations had yet to officially react Monday but Trump's announcement triggered crisis meetings, Hollywood press outlets reported, publishing skeptical comments from insiders speaking on condition of anonymity.

"I can't see his target here other than confusion and distraction," the showbiz news outlet Deadline quoted a top distribution executive as saying.

"Let's hope this only encourages desperately needed increases in US state tax incentives being implemented ASAP," that person added.

Such incentives offered by other countries -- like Britain, Canada and Ireland, among others -- are a lure for US movie studios to film outside the country.

While Trump's idea is divisive, there is widespread agreement that the US movie industry is in dire straits.

Since the historic strikes by actors and writers that shut it down in 2023, Hollywood has struggled to get back on its feet.

In Los Angeles, the number of filming days hit a record low in 2024, if one excludes the total shutdown in 2020 because of the Covid pandemic.

This is in part because many movies are now filmed in a growing number of countries that offer incentives such as tax rebates.

Deadline quoted a Hollywood movie financier as saying he actually agrees with Trump's goal of having more movies filmed in the United States.

"But obviously the need is for rebates, not tariffs. Tariffs will just choke the remaining life out of the business," they were quoted as saying.

As Hollywood fretted over Trump's announcement, the White House said no decision on foreign film tariffs has been made.

"The Administration is exploring all options to deliver on President Trump's directive to safeguard our country's national and economic security while Making Hollywood Great Again," the White House said in a statement.

Trump told reporters Monday, "I'm not looking to hurt the industry. I want to help the industry. But they're given financing by other countries."

That seemingly conciliatory remark stopped short of walking back the film tariff announcement, as Trump criticized California Governor Gavin Newsom, who is pushing for his state to double the tax credits it grants to the movie industry.

"Our film industry has been decimated by other countries taking them out, and also by incompetence," Trump said, attacking Newsom.

"He's just allowed it to be taken away from, you know, Hollywood."

Former US vice president Mike Pence on Monday criticized the Trump administration's policy on tariffs and said potential shortages could lead Americans to "demand a different approach" from the White House.

In a primetime interview with CNN, Pence discussed a range of topics, and criticized his former boss for pardoning nearly all the rioters who had been prosecuted for storming the US Capitol on January 6, 2021.

In his second term, Donald Trump has imposed wide-ranging tariffs on almost all US trading partners, claiming that other countries adopt "unfair" practices and that Washington needs to achieve trade balance with every country.

Pence served as vice president to Trump in his first term, but notably broke with the Republican billionaire over Trump's claims that the 2020 election was rigged.

Pence said he had "concerns" that Trump's tariff policies were "essentially new industrial policy that will result in inflation, that will harm consumers and that will ultimately harm the American economy."

The former VP appeared to disagree with Trump on the Russia-Ukraine war, saying that Russian President Vladimir Putin "only understands power."

"If the last three years teaches us anything, it's that Vladimir Putin doesn't want peace; he wants Ukraine."

Trump's administration has led efforts to secure a ceasefire in the war, with officials often appearing to shift US positions to be more in line with Moscow's on the conflict.

Trump has, however, expressed increased impatience with Putin over the stalled talks, with officials suggesting Washington would walk away from the process if there are no tangible results soon.

On the pardons for the Capitol rioters, who had stormed the seat of US legislative power in a bid to stop the certification of an election result that saw Trump lose to Joe Biden, Pence expressed disappointment.

"I was deeply disappointed to see President Trump pardon people that engaged in violence against law enforcement officers that day," Pence said.

"The president has every right under the Constitution to grant pardons, but in that moment, I thought it sent the wrong message."

Trump's supporters saw Pence's participation in the certification of Biden's victory as a betrayal, and chants of "Hang Mike Pence!" became common at rallies for the Republican.

Pence, however, said he was still "proud of the record of the Trump-Pence administration," adding "we never had a cross word between us until those fateful days at the end."

Automobile giant Ford hit a huge bump in its first quarter profits, reporting a sharp fall of 65% on Monday. The company also withdrew its forecast for 2025 amid tariff uncertainty as auto sales fell due to the launch of new vehicles.

The company posted $471 million in profits for the quarter, a figure that exceeded analyst expectations but was just a third of its earnings over the same period last year, while revenues fell by five percent to $40.7 billion.

It reported a 7% drop in wholesale units, a decline it had flagged earlier, blaming slower production at its Kentucky and Michigan plants where new vehicle launches are underway.

India, US close in on trade deal? In trade discussions with the US, India has put forward a proposal for zero-for-zero tariff arrangements on specific items including steel, auto parts and pharmaceuticals, based on reciprocity and limited to certain import volumes, according to sources with knowledge of the matter.

According to a Bloomberg report, during their visit to Washington in the previous month, Indian trade representatives presented this proposal to accelerate discussions for a bilateral trade agreement anticipated by autumn this year.

The US administration’s April 2 tariff announcement (later paused for 90 days) is part of a broader strategy aimed at compelling foreign governments to reduce trade barriers to American goods. Moving beyond traditional tariffs, the policy targets non-tariff barriers such as agricultural regulations, taxation systems, currency practices, product standards, legal frameworks, and customs procedures.

Countries have been given a three-month deadline to make concessions or face new tariffs ranging from 10 per cent to over 50 per cent. Tariffs on Chinese goods have already taken effect.

However, many nations face major challenges in meeting US demands, particularly in lowering tariff rates and navigating ambiguous negotiation terms. Officials from several targeted countries have expressed uncertainty about the administration’s specific requirements.

Investment firm 3G Capital is acquiring footwear manufacturer Skechers in a private transaction valued at over $9 billion. The acquisition occurs during a period of uncertainty regarding the impact of US President Donald Trump's foreign goods tariffs on companies with overseas manufacturing, particularly in China.

The footwear industry has substantial manufacturing investments across Asia. The transaction, which received unanimous approval, values Skechers at $63 per share, representing a 30% premium over its 15-day volume-weighted average share price.

The company's shares rose by approximately 25% to $61.59 on Monday.

Whilst the acquisition announcement did not address potential tariff implications, it is noteworthy that Skechers generates approximately two-thirds of its revenue outside the United States.

According to FactSet, China contributes 15% of the company's revenue. The timing of this acquisition coincides with Trump's fluctuating tariff declarations.

India has put forward a proposal for reciprocal zero tariffs on specific industrial goods, including steel, auto parts and pharmaceuticals, up to a predetermined import volume in its trade talks with the US, sources with knowledge of the matter told Bloomberg.

Once imports exceed the specified threshold, standard duty rates would apply to these industrial products, according to the sources who requested anonymity due to the confidential nature of the discussions. Indian trade representatives made this proposal during their visit to Washington in the previous month, aiming to accelerate discussions for a bilateral trade agreement anticipated by autumn this year.

Both countries are focusing on select industries to achieve a swift trade agreement before the conclusion of the 90-day suspension of President Donald Trump's retaliatory tariffs, the sources revealed.

During an interactive discussion at Brown University's Watson Institute for International and Public Affairs in the US, Rahul Gandhi commented on the Indian government's stance regarding President Donald Trump's tariff decision, saying, "We don't know how is it responding because they (the government) don't tell us these things."

Donald Trump is negotiating, and he is well within his rights to negotiate, Gandhi said, adding that "we should negotiate right back."

"We should understand what our strengths are, (and) what we need, and we should not compromise in areas that are detrimental to us. He (Trump) is well within his rights to say that he wants to change the tariff structure, and it's a negotiation; it's fine. I think we are more than capable enough to negotiate ourselves a decent deal," he said.

The US and India need to show how they can produce effectively in a democratic environment, he added.

Australia's prime minister said Monday he held a "warm" conversation with Donald Trump, days after storming to an election victory partly shaped by voters' distrust of the US president.
Left-leaning Prime Minister Anthony Albanese won by a landslide on Saturday, defeating a conservative challenger pilloried by critics for his "Trump-lite" policy offerings.

"I had a warm and positive conversation with President Donald Trump just a short while ago," Labor Party leader Albanese told reporters.

"It was a very warm discussion about the friendship between our two nations that's so important.

"He was fully aware of the outcome and he expressed the desire to continue to work with me in the future," he added, referencing his election win.

The conversation touched on the nations' security alliance, Albanese said, as well as the rollout of punishing US tariffs.

Trump's trade tariffs, and the chaos they unleashed, were far from the only factor in the Labor Party's resounding victory -- but analysts said they certainly helped.

Albanese's slow-but-steady leadership resonated at a time of global tumult, analysts said, with voters deserting hard-nosed conservative leader Peter Dutton in droves.

The harshest critics likened Dutton's offering to that of a "Temu Trump", an unflattering comparison to the popular website offering cut-price unbranded goods.

Albanese also confirmed the first trip of his second term would be to neighbouring Indonesia.

The Federal Reserve will likely keep its key short-term interest rate unchanged on Wednesday, despite weeks of harsh criticism and demands from President Donald Trump that the Fed reduce borrowing costs. After causing a sharp drop in financial markets two weeks ago by saying he could fire Fed Chair Jerome Powell, Trump subsequently backed off and said he had no intention of doing so. Still, he and Treasury Secretary Scott Bessent have said the Fed should cut rates.

They argue that inflation has steadily cooled and high borrowing costs are no longer needed to restrain price increases. The Fed sharply ramped up its short-term rate in 2022 and 2023 as pandemic-era inflation spiked.

Separately, Elon Musk, the head of Trump's Department of Government Efficiency, last Wednesday suggested that DOGE should look more closely at the Fed's spending on its facilities.

The heightened scrutiny shows that even as the Trump administration backs off its threats to fire Powell, the Fed is still subject to unusually sharp political pressures, despite its status as an independent agency.

The Trump administration says the sweeping tariffs it unveiled April 2, then postponed for 90 days, have a simple goal: Force other countries to drop their trade barriers to U.S. goods.
Yet President Donald Trump’s definition of trade barriers includes a slew of issues well beyond the tariffs other countries impose on the U.S., including some areas not normally associated with trade disputes. Those include agricultural safety requirements, tax systems, currency exchange rates, product standards, legal requirements, and red tape at the border.

He’s given countries three months to come up with concessions before tariffs ranging from 10% to more than 50% go into effect. Tariffs on China are already in effect.

On many issues it will be difficult, or in some cases impossible, for many countries to make a deal and lower their tariff rates.

In addition, many trade officials from targeted countries say privately that it isn’t always clear what the Trump administration wants from them in the negotiations.

Vice President JD Vance announced that India has agreed to the terms of trade talks with the United States, but other countries are still trying to set the contours for any negotiations. The White House has highlighted conflicting goals for its import taxes: It’s seeking to raise revenues and bring manufacturing back to the U.S., but it also wants greater access to foreign markets and massive changes to other nations’ tax and regulatory policies.

Filmmaker Shekhar Kapur on Monday criticised American President Donald Trump for threatening a 100 percent tariff on films imported to the US, saying the move could backfire and instead push Hollywood filmmakers to leave the country. In a post Sunday night on his Truth Social platform, Trump said he has authorised the Department of Commerce and the Office of the US Trade Representative to slap a 100 per cent tariff "on any and all Movies coming into our Country that are produced in Foreign Lands".

Kapur, known for films such as "Mr India", the "Elizabeth" franchise starring Cate Blanchett and "What's Love Got to Do with It?", said over "75% of box office" of Hollywood films comes from outside the US.

"And significant part of the budget of those films are spent outside the US. President Trump's imposition of 100% tarif on all films imported into the US may encourage Hollywood to move outside the US! Quite the opposite of what he intended. #Hollywood #tarrif #DonaldTrump #tarrifonfilm (sic)" the director wrote on X.

The ongoing transition to electric vehicles (EVs) is expected to reshape the auto component industry by increasing content per vehicle and creating new avenues for suppliers, according to a recent report by Ambit Capital.

However, it also highlighted that while the rise of EVs poses a threat to manufacturers dependent on internal combustion engine (ICE) components, it also unlocks significant growth opportunities.

The report said "While EV disruption poses existential risk for the suppliers of ICE-dependent components, it opens up several opportunities for the component suppliers to provide a) EV components like li-ion batteries, traction motors, controllers, BMS etc"

It added that the component makers can diversify into EV-specific parts such as lithium-ion batteries, traction motors, controllers, and battery management systems (BMS).

Additionally, EVs enable the adoption of advanced technologies like regenerative braking, advanced driver-assistance systems (ADAS), and smart cockpits, further boosting the role of suppliers in the value chain.

President Donald Trump said Sunday he was ordering new tariffs on all films made outside the United States, claiming Hollywood was being "devastated" by a trend of US filmmakers and studios working abroad.

"I am authorizing the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100% Tariff on any and all Movies coming into our Country that are produced in Foreign Lands," he wrote on his Truth Social platform.

Donald Trump said in an interview on Sunday that the "good parts" of today's US economy flow from his policies while the bad can be blamed on his predecessor Joe Biden, who "did a terrible job."

"Ultimately, I take responsibility for everything," the US president said in an interview on NBC's "Meet the Press" talk show.

"But I've only just been here for a little more than three months."

At a time of mixed economic signals and mounting concerns over his aggressive use of tariffs, Trump said "certain aspects" of the economy are his doing. "I was able to get down the costs," he said.

"I think the good parts are the Trump economy and the bad parts are the Biden economy because he's done a terrible job."

While surveys point to growing public concern over the economy, most official indicators are not yet flashing red, with unemployment last month at a moderate 4.2 percent and inflation in March at 2.3 percent, just above the Federal Reserve's target.

It felt much longer, but the U.S. stock market needed just a few weeks to roar all the way back to where it was on President Donald Trump's “Liberation Day.” That's when he shocked Wall Street by announcing much steeper tariffs than expected on nearly all U.S. trading partners.

Those tariffs unveiled on April 2 were so severe that they raised fears Trump did not worry about causing a recession in his attempt to reshape the global economy. Within just four days, the S&P 500 fell about 12%, and the Dow Jones Industrial Average lost nearly 4,600 points, or about 11%.

This past Friday, though, the S&P 500 rallied 1.5% for a ninth straight gain and pulled back to where it was on April 2.

Of course, the index at the heart of many 401(k) accounts is still more than 7% below its all-time high set earlier this year. And stocks could easily fall again as uncertainty remains high about what Trump's tariffs will ultimately do to the economy. But the run for U.S. stocks back upward has been just as wild and unexpected as its fall.

US President Donald Trump said in remarks airing Sunday that he does not know whether he must uphold the US Constitution, the nation's founding legal document.

In a wide-ranging NBC News interview, the 78-year-old Republican also said he was not seriously considering running for a constitutionally-barred third White House term, and blamed his presidential predecessor Joe Biden for the "bad parts" of the current economy.

Trump has drawn widespread criticism for repeatedly brushing up against constitutional guardrails since returning to the White House in January, notably over his policy of mass deportations of undocumented migrants, some without the benefit of a court hearing.

He insists such rapid expulsions are necessary in the face of what he has declared to be a "national emergency," and that giving every migrant a court trial would take "300 years."

When NBC's "Meet the Press" moderator Kristen Welker asked if people in the United States -- citizens and non-citizens alike -- deserve the due process of law, as the US Constitution states, Trump said: "I'm not a lawyer. I don't know."

Pressed more generally on whether he believes he needs to uphold the supreme law of the land, Trump repeated: "I don't know."

The remarks in the interview -- recorded Friday and broadcast Sunday -- quickly made waves in Washington, including among some Republicans.

Donald Trump said in a Sunday interview that the "good parts" of today's US economy flow from his policies while the bad can be blamed on his predecessor Joe Biden, who "did a terrible job."

"Ultimately, I take responsibility for everything," the US president said in an interview on NBC's "Meet the Press" talk show.

"But I've only just been here for a little more than three months."

At a time of mixed economic signals and mounting concerns over his aggressive use of tariffs, Trump said "certain aspects" of the economy are his doing. "I was able to get down the costs," he said.

"I think the good parts are the Trump economy and the bad parts are the Biden economy because he's done a terrible job."