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U.S. President Donald Trump confirmed sweeping new tariffs during a Republican fundraising gala on Tuesday night, April 8. Speaking to a crowd of House Republicans, Trump claimed that other countries “are calling us up, kissing my ass” for a trade deal. His remarks drew laughter from the audience. Imitating foreign leaders, he added, “Please, please, sir, make a deal. I’ll do anything.” The event took place just hours before a major hike in U.S. tariffs on Chinese goods came into effect. Starting Wednesday, April 9, the tariffs on Chinese imports jumped to 104%, as confirmed by a White House official speaking to CNBC. The increase followed Trump’s demand that China drop its 34% retaliatory tariffs on U.S. goods by Tuesday. Trump had threatened to double U.S. tariffs if Beijing failed to meet a firm noon deadline. With no change from Beijing, the U.S. followed through with the hike. During the same address, Trump also mocked fellow Republicans who have called for Congress to take over international trade negotiations. “Let me tell you, you don’t negotiate like I negotiate,” he said. Trump will announce tariffs on pharmaceuticals soon In another major announcement, Trump revealed plans to impose what he called “major” tariffs on imported pharmaceuticals. He told the audience, “We’re going to be announcing very shortly a major tariff on pharmaceuticals. And when they hear that, they will leave China.” Trump also recently told reporters aboard Air Force One that these pharmaceutical tariffs will arrive “at a level that you haven’t really seen before.” He said they would be announced “in the near future.” If implemented, this move would mark a major shift in the global pharmaceutical trade. For decades, most countries—including the U.S.—have imposed few or no tariffs on finished medicines. This has been in line with a 1995 World…

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Filed under: News - @ April 9, 2025 2:28 pm