U.S. Treasury Secretary Scott Bessent spoke on tariffs this morning at an ongoing event. Before diving into banking regulation, the subject of the Q&A, Secretary Bessent touched on some key points on reciprocal tariffs.

Key points:

- Secretary Bessent said if nations do not retaliate, the original tariff levels “will be the ceiling.”

- Secretary Bessent will be taking point on all negotiations with nations on tariffs.

- ~8 different nations are now lined up for negotiations in the near term. Vietnam’s delegation was specifically mentioned, as was Japan and South Korea.

- U.S. President Trump had a “very good call” with South Korean decision-makers yesterday on the subject of tariffs.

new news format

nostr:note1v9v2rzkjmqvc0r5a6z32yes0l8tjg22fgapqw8qsx7rled3wg6zsw0elp9

GM 🫡

China Announces Sharp Increase in Tariffs on U.S. Imports

The Chinese Ministry of Finance has declared a significant escalation in its trade response to the United States, raising tariffs on American imports from 34% to 84%, effective April 10, 2025. The announcement follows the implementation of broad U.S. reciprocal tariffs, which took effect earlier today at 12:01 AM.

In parallel, Chinese and European officials have reportedly been in communication to address the growing financial instability triggered by the tariff war, according to the Chinese Ministry of Foreign Affairs. The European Union is also expected to introduce retaliatory measures later today, as reported by gCaptain.

China responds to the U.S. and announces 84% tariffs on all U.S. imports.

According to several congressional officials who spoke recently with the New York Times, military commanders and officials with U.S. Indo-Pacific Command (INDOPACOM) who are planning for a conflict with China, are growing increasingly concerned that the Pentagon will soon need to move long-range precision weapons from stockpiles in the Asia-Pacific to the Middle East. The concern by officials comes amidst the ongoing strike campaign against the Iranian-backed Houthi terrorist group in Western Yemen, which has already expended a large amount of munitions in its first month, claimed to have so far cost over $200 million - or $1 billion if accounting for operational and personnel expenses by U.S. Central Command (CENTCOM).

One of the U.S. Air Force C-5M “Super Galaxy” Strategic Heavy-Lift Aircraft that arrived yesterday at Diego Garcia from Hill Air Force Base, likely carrying munitions for the 6 B-2 “Spirit” Long-Range Strategic Stealth Bombers deployed to the island for strikes against the Houthis in Yemen and possibly in the future Iran; departed earlier today heading towards the Asian-Pacific. This C-5M (RCH1892) appears to be heading towards Osan Air Base in South Korea, while another C-5M (RCH2023) departed Okinawa, Japan heading towards the South China Sea.

This will likely cripple Chinese e-commerce sites like SHEIN, Temu or Alibaba, who almost all use China Post or other Chinese transport companies before packages are turned over to the U.S. Postal Service.

Despite the market being up early on Tuesday, reacting to reports of ongoing trade negotiations by the Trump Administration; the U.S. Stock Market today closed down for the fourth day in a row with the Dow dropping roughly 320 points, while the S&P 500 and the Nasdaq Composite fell 1.6% and 2.2% respectively, removing any gains made earlier in the day and wiping out nearly $1.5 Trillion.

Heavy strikes, likely U.S., in the Sana’a area of Yemen now. Additionally, a high tempo of strikes on Mount Nuqum just to the east of Sana’a, which is an area known to be dotted with underground Houthi military infrastructure.

Several massive explosions reported in the last few minutes atop Mount Nuqum to the east of the Yemeni capital of Sana’a in Houthi-controlled Western Yemen, as smoke pours from military sites on and inside the mountain that have been targeted by tonight’s wave of U.S. strikes.

What is being described as “some of the heavy strikes of the campaign so far” have been launched tonight by the U.S. Navy and Air Force against Mount Nuqum near the Yemeni capital of Sana’a in Houthi-controlled Western Yemen. The areas targeted are said to include underground-munition storage facilities and other military sites operated by the Iranian-backed Houthi terrorist group, with dozens of explosions seen in the mountains from Sana’a.

https://video.nostr.build/c6eba08391b5b1e01e064a072b2c7be61b516807a01d413f11ef347851433e25.mp4

Tonight at 12:01am EDT, Canada’s counter-tariff against the U.S. of 25% on all American-produced vehicles not covered under the Canada-United States Free Trade Agreement (CUSFTA) will go into effect, as well a 25% tariff on the contents of all vehicles covered under CUSFTA that are not produced in either Canada or Mexico.

The Associated Press’ (AP) injunction was granted by U.S. District Judge Trevor N. McFadden today. The injunction requested that they be reinstated to Oval Office and Air Force One press events after they were barred from them earlier this year. The lawsuit, which was levied against the White House back in February of this year, is still ongoing but AP’s key goal of rejoining the pool at White House and Air Force One events has now been realized.

The Trump administration secured a major victory at the Supreme Court this Tuesday.

The Court sided with the Trump government and upheld the mass dismissal of tens of thousands of federal probationary employees, overturning lower court rulings.

In their final brief to the Supreme Court, government attorneys argued that lower courts had overstepped their authority by ordering the reinstatement of probationary employees last month.

During an ongoing event for the Unleashing American Energy Executive Order signing, U.S. President Donald J. Trump confirmed that South Korean and Japanese officials are “flying here to make a deal” on the renegotiation of the reciprocal tariffs imposed on them.

Reciprocal Tariffs Imposed on South Korea and Japan:

Japan- 24%

South Korea- 25%

https://video.nostr.build/9df998948b2856a435687731aeb40c50f49271979a30e2bd6b07fa97544d455d.mp4

The Israel Defense Force (IDF) has said that they conducted a strike on a weapons warehouse belonging to Hezbollah’s air defense forces in the Beqaa Valley in Lebanon. Local media reported that strikes did occur in Hawsh Tal Safiyeh in Northeastern Lebanon.

As we speak Israeli air activity is also being reported over a number of areas inside Lebanon, including Beirut.

In an ongoing presser, White House Press Secretary Karoline Leavitt confirmed that China missed today’s 12:01 p.m. EST deadline to rescind their retaliatory 34% tariffs on U.S. goods. As threatened, an additional 50% tariff will be imposed on Chinese goods starting tomorrow, April 9, 2025. This brings the total additional tariffs on Chinese goods to 104%.

The U.S. Senate has now voted 54-45 to confirm U.S. President Donald J. Trump’s nominee for Under Secretary of Defense for Policy, Elbridge Colby.

According to NBC News, senior officials at the U.S. Department of Defense are considering a proposal to withdraw roughly 10,000 of the 20,000 troops deployed by the Biden Administration to Eastern Europe in 2022, as a response to the Russian invasion of Ukraine and to bolster NATO’s Eastern Front. Some officials are concerned that a move such as this could reinforce fears that the U.S. is “abandoning” allies in Europe, while being seen as a weakening of deterrence towards Russia.