Trump Tariffs Live Updates: White House Adviser Signals Trade Deals Near with 10+ Countries
Washington, D.C. – April 14, 2025, 10:18 AM PDT
As President Donald Trump’s sweeping tariffs continue to roil global markets, White House economic adviser Kevin Hassett told ABC News’ Rachel Scott today that the administration is “close to finalizing” trade deals with more than 10 countries, offering a potential off-ramp to the trade war sparked by duties imposed since February. The claim comes amid a 90-day tariff pause announced April 9 for most nations—except China, now facing a 125% levy—following a market crash that wiped out $5 trillion in S&P 500 value, per Reuters. Here’s the latest on Trump’s tariff saga, Hassett’s trade deal buzz, and what it means for global commerce.
Hassett’s Trade Deal Tease
Speaking outside the West Wing, Hassett, Director of the National Economic Council, said, “We’ve got more than 10 deals where there’s very, very good, amazing offers made to the US that USTR Trade Representative Jameson Greer, Howard Lutnick, and the President are stewing over.” He declined to name the countries, saying Trump will decide whether to announce deals individually or as a bundle, but called progress “astonishing,” per Good Morning America. The statement follows Trump’s April 9 Truth Social post claiming “more than 75 countries” contacted U.S. officials to negotiate, a figure Hassett echoed last week, noting 15 nations had “explicit offers,” per The Times of India.
Analysts speculate the 10+ countries could include allies like Japan, South Korea, and Vietnam—facing 25%, 24%, and 46% tariffs, respectively, before the pause—based on Treasury Secretary Scott Bessent’s comments about “big trading partners” eager to talk, per Politico. Taiwan, spared semiconductor tariffs after a $100 billion TSMC investment, and India, eyeing a $500 billion trade boost by 2030, are also likely candidates, per The Guardian and Wikipedia. Hassett’s optimism contrasts with China’s refusal to negotiate, with Beijing hiking U.S. goods tariffs to 125% on April 10, per Sky News.
Tariff Timeline and Market Chaos
Trump’s tariffs, launched under a “national emergency” declaration via the International Emergency Economic Powers Act, began with 25% duties on Canada, Mexico, and 10% on China in February, citing immigration and fentanyl concerns, per The White House. On April 2, he unveiled “reciprocal” tariffs: a 10% baseline for all nations, plus higher rates like 34% on China, 20% on the EU, and 32% on Taiwan, calculated controversially by halving trade deficits divided by imports, per The New York Times. Auto, steel, and aluminum tariffs followed, hitting Canada and Mexico hardest until USMCA exemptions were extended indefinitely on April 2, per Tax Foundation.
Markets tanked, with the S&P 500 dropping 11% by April 8, per CNBC. Trump’s April 9 pause—lowering most tariffs to 10% for 90 days, except China’s, which spiked to 125%—sparked a rebound, with European stocks like Frankfurt’s DAX jumping 7%, per The Times of India. Still, uncertainty lingers. Hassett told Fox News today the pause aims to “reward” countries not retaliating, but warned tariffs could snap back if deals falter. X users are split: “Trade deals sound promising, but markets hate this flip-flopping,” one wrote, while another said, “Hassett’s talking big—let’s see actual signatures.”
Electronics Tariffs: Confusion Reigns
Adding to the chaos, Trump’s team sowed mixed signals on electronics. U.S. Customs announced April 11 that smartphones, computers, and chips were exempt, but Trump and Hassett clarified Sunday on This Week that these are temporary, with semiconductors shifting to a national security tariff under Section 232 by June, per Good Morning America. “Everything’s covered—no exemptions,” Hassett told Scott, hinting at rates to be set soon. This reversal spooked tech stocks, with Apple and Nvidia dipping 3% today, per Yahoo Finance. China called the exemption a “small step” but urged a full tariff rollback, per Good Morning America.
Global Reactions and Risks
The tariff pause eased tensions, with Canada’s Mark Carney calling it a “reprieve” for talks, per NBC News. Taiwan’s Lai Ching-te reported “smooth” initial discussions, per Yahoo Finance, and Israel’s Benjamin Netanyahu seeks a 17% tariff cut, per Reuters. But China’s rare-earth export halt, impacting U.S. auto and defense sectors, signals escalation, per Wikipedia. Economists warn of pain ahead: tariffs could add $1,300 per U.S. household in 2025, per Tax Foundation, and 23 Nobel laureates predict “higher prices, larger deficits,” per Wikipedia. X posts reflect anxiety: “Deals with 10 countries? Hope they’re real, ‘cause my grocery bill’s already crying.”
What’s Next?
Trump, aboard Air Force One last night, promised clarity on electronics tariffs “this week,” per Good Morning America. Hassett’s deal claims hinge on Trump’s approval, with no timeline set. The Federal Reserve, eyeing inflation risks, may delay rate cuts (current range: 4.25–4.5%), per CNBC, especially if deals collapse and tariffs return. For now, the 10% baseline holds, China’s at 125%, and markets await proof of Hassett’s “amazing offers.” As one X user put it, “Tariffs are Trump’s poker game—hope he’s not bluffing.”
By Staff Writer, Trade Tracker Times
Sources: Good Morning America, Reuters, The Guardian, Politico, The Times of India, Sky News, The White House, The New York Times, Tax Foundation, CNBC, Yahoo Finance, NBC News, posts on X