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Donald Trump’s reciprocal tariffs, which was meant to impose levies against all those who tariff US goods, has taken a fresh turn. It has evolved into a slugfest between China and the United States, with Washington now imposing a punishing 125 per cent tax on all Chinese goods. At the same time, tariffs on other nations have been put on hold.

Announcing this on his social media platform Truth Social, President Trump said that while China will have to bear the brunt of 125 per cent tariffs, Washington has put a 90-day pause on the other 75 countries against whom reciprocal tariffs were imposed on April 2.

CHINA PUNISHED, PUT IN THE CORNER

Slamming China for its “lack of respect” shown to world’s markets, President Trump intensified his punishing tariffs against the world’s second-largest economy. “Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately,” he wrote.

Reiterating his criticism of China for “robbing” and “ripping off” the United States’ economy for decades with its punitive tariff structures, unfair trade practices, currency manipulation tactics, and unjustified subsidy norms, President Trump wrote that “At some point, hopefully in the near future, China will realize that the days of ripping off the USA, and other countries, is no longer sustainable or acceptable.”

While putting China in the corner, Donald Trump gave respite to the 75 other nations that he had imposed “discounted reciprocal tariffs” on last week, saying that he has ordered an immediate pause on such levies after seeing a humble and proactive approach by these nations in trying to resolve the trade imbalance with the United States.

RESPITE FOR THE OTHERS

Complementing the 75 other nations for “not retaliating in any way” and instead, respecting his suggestions, he wrote, “Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.”

And so, in a move that may well be seen as a softening of his stand, Donald Trump, with the stroke of his pen, changed the entire dynamic of his “Liberation Day” move. Today’s move by President Trump also hints at being one to redeem his image across the world, for which he himself was to blame over his vastly unpopular decision, which turned away US allies and made friendly nations revolt by looking for alternatives.

MOVE TO ISOLATE CHINA OVER TARIFFS

Now, President Trump latest pivot has singled out Beijing, and given a clear indication that America has one main adversary – China.

China’s Xi Jinping, who has been matching Donald Trump step for step, may find Beijing increasingly isolated. Till Trump’s tariffs were acting like a thorn for US allies and other neutral nations, they were gravitating towards China – the second-largest economy and largest exporter of goods. But with Trump’s decision to put a “pause” on reciprocal tariffs on most nations, the status-quo is reversed, and they may well gravitate towards America – the largest economy and the oldest democracy.

Within minutes of Donald Trump’s announcement today, the US stock markets surged. Wall Street stocks rocketed higher immediately. The S&P 500 surged 6.0 percent higher to 5,281.44, snapping a brutal run of losses since Trump’s “Liberation Day” tariff announcement a week ago.
 

Capping a day dominated by a back-and-forth between the US and China, Donald Trump on Wednesday made two major announcements on tariffs, giving all other countries a breather but doubling down on his tough stance on Beijing.

After the US raised tariffs on China to 104%, Beijing retaliated, announcing that it will impose a levy of 84% on US imports – up from 34% – marking a significant escalation of the tariff trade war between the countries.   

The US counterstrike was swift, and brutal. 

Taking to his social media platform TruthSocial, the US president announced that he was raising tariffs on China even further- to 125% – effective immediately. 

“At some point, hopefully in the near future, China will realise that the days of ripping off the USA, and other countries, is no longer sustainable or acceptable,” Trump wrote.

For other countries, though, the billionaire also appeared to apply a salve on tariff wounds, announcing a 90-day pause on tariffs over the baseline, universal rate of 10%. 

Asserting that over 75 countries had tried to negotiate with the US and not retaliated to the tariffs in “any way, shape or form”, Trump said he has authorised a 90-day pause, also effective immediately. The lack of retaliation by the countries, he insisted, was a result of his “strong suggestion”. 

“Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR (United States Trade Representative), to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately. Thank you for your attention to this matter!” the US president wrote.

NEW TRUTH SOCIAL FROM PRESIDENT TRUMP:

🇨🇳125% TARIFF ON CHINA
🌎90-DAY PAUSE & LOWERED 10% RECIPROCAL TARIFF FOR OTHER COUNTRIES

🚨EFFECTIVE IMMEDIATELY pic.twitter.com/Gt5Bd6276m

— The White House (@WhiteHouse) April 9, 2025

India Impact

India has taken a cautious approach to Trump’s tariffs, despite a 26% additional levy announced last week, and emphasised that a bilateral trade deal with the US is in the works. 

“On the third, we had a detailed press release issued by the Ministry of Commerce, in which India’s position was made clear. We are studying the implications of the tariffs that have been announced,” Ministry of External Affairs Spokesperson Randhir Jaiswal said on Wednesday. 

“Reciprocal tariffs and discussions are ongoing between India and US Trade teams for an expeditious conclusion of a mutually beneficial multi-sectoral bilateral trade agreement. India values its comprehensive global strategic partnership with the US and is committed to working closely with it… Both teams are in discussion and hopefully we can close it (the agreement),” he added. 

Indian markets, which have plunged after the tariffs announcement, are likely to get a breather and the pause will also give New Delhi more time to work on the deal with the US as well as figure out the best way to deal with the levies if and when they are enforced again. 

Flip-Flop?

While the pause may be good for most of the world, barring China, it points to policy uncertainty within the Trump administration when it comes to tariffs. After standing firm on the decision despite US markets witnessing record losses and insisting that there will be short-term pain followed by long-term gain, the pause indicates an abrupt change.

There has been speculation about whether the tariffs were intended as a permanent measure or a tool to get countries to the negotiating table. When key Trump aides were asked about this, some said the former while others pointed to the latter. And when the question was directed to the US president himself, the answer was decidedly mixed, adding to the uncertainty. “There can be permanent tariffs – and there can also be negotiations because there are things that we need beyond tariffs,” Trump had said.

On Wednesday, however, US Treasury Secretary Scott Bessent said Donald Trump’s “strategy” had gone as planned.

“This was his strategy all along, and you might even say that he goaded China into a bad position,” Bessent was quoted as saying by news agency AFP. 

Margaret Alva, former Union minister who occupied the Raj Bhavans in four states – Goa, Gujarat, Rajasthan and Uttarakhand – today said the Supreme Court’s landmark verdict on power of Governors was “much needed” and absolutely “on time”.  Tamil Nadu Governor RN Ravi, she said, now “should resign and go home” for he would be “persona non grata” in the state.

Mr Ravi withheld assent to MK Stalin government’s 10 bills for three years. The government went to court and the Supreme Court ruled on Tuesday that the Governor’s decision to withhold assent was “illegal” and “arbitrary” and he did not act in ‘good faith”.

Setting aside the decisions of the Governor, the court said the bills shall be “deemed to be cleared” from the date they were presented to the Governor for a second time.

The court also presented a timeline for Governors: A one-month deadline to withhold assent to a Bill and reserve it for the President’s review with the aid and advice of the Council of Ministers; when a Bill is reserved without the aid and advice of the Council of Ministers, this deadline will be three months; if a Bill is presented to a Governor after reconsideration by the state Assembly, he/she must clear it within a month.

Ms Alva said the court had “stepped-in in time and with a heavy hand” and it was necessary in view of the “atrocious” situation in states like Kerala, Delhi and Tamil Nadu.

“For years now, we have watched Raj Bhavans functioning on their own with no regard to constitutional provisions, to legislative procedures and considering themselves — if I may say so — as some kind of dictators in Raj Bhavans,” she said.

“A Governor cannot sit on 10 bills for three years… It is unheard of… The term of the government is five years and assent is withheld for four years,” she said, referring to the rules that provide only four options for Governors – signing off on a bill, raising doubts and concerns, signing off on a bill if the state resolves concerns and presents it for a second time and referring it to the President.  

Asked about the judgment setting a precedent and how it would sit if a Congress or opposition government comes to power in the coming years, she said there is no cause to worry. 

“I don’t think any of our Governors behaved this way. I had two states with BJP Chief Ministers. But you are supposed to be a friend philosopher and guide of the state government,” she said.  

In this context, she also cited the case of Buta Singh, who in 2005, had dismissed the then government in Bihar. “He was told to go. That was the Congress government which told its Governor to go,” added Ms Alva, who for decades, was part of the Congress.

Sai Sudharsan (PTI Photo)

NEW DELHI: Gujarat Titans delivered a comprehensive performance on Wednesday to defeat Rajasthan Royals by 58 runs in the 23rd match of IPL 2025 at the Narendra Modi Stadium, Ahmedabad.
The victory was set up by a commanding batting display, headlined by a mature and stylish innings from Sai Sudharsan, who crafted a brilliant 82 off 53 balls.
Batting first after RR chose to bowl, Gujarat got off to a shaky start with captain Shubman Gill falling early.
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But Sai Sudharsan took control of the innings with a blend of patience and controlled aggression.
He found an ideal partner in Jos Buttler (36 off 25), and the duo stitched together a vital 80+ stand to rebuild and then accelerate the innings.
Sai’s knock included 8 boundaries and 3 sixes, showcasing his growing confidence and maturity at this level. He paced his innings beautifully — steady in the powerplay, fluent through the middle, and aggressive when needed.
Cameos from Shahrukh Khan (36 off 20), Rahul Tewatia (24 not out off 12), and late fireworks pushed GT to an imposing 217/6.
Rajasthan’s bowlers struggled to contain the flow, with Tushar Deshpande picking up two wickets but going for 53 in his four overs.
Maheesh Theekshana was another pick of the bowlers with 2 for 54.
In reply, Rajasthan never really got going.
Sanju Samson (41 off 28) and Shimron Hetmyer (52 off 32) offered some resistance, but regular wickets derailed their chase.

Prasidh Krishna was outstanding with the ball, taking 3 for 24, while Rashid Khan and Sai Kishore chipped in with crucial wickets in the middle overs.
But the evening truly belonged to Sai Sudharsan.
In a team filled with explosive talent, it was his calm, composed approach that stood out. With this knock, he reaffirmed his reputation as one of India’s most promising young batters and a key figure in Gujarat’s campaign this season.

Tahawwur Hussain Rana, India’s most wanted who is accused of plotting the 26/11 terror attacks in Mumbai, is on way back to face the law. A special flight carrying him departed from the US this evening after he exhausted all legal avenues to stop his extradition.

Rana, 64, will land in Delhi tomorrow afternoon, sources said, and he will be arrested by the National Investigation Agency immediately. A joint team of the National Investigation Agency and the Research and Analysis Wing is reportedly bringing him back.

He is likely to be presented in a Delhi court, sources said. The Mumbai police have not been officially informed when he would be transferred to the city. He has been charged with criminal conspiracy, waging war against the government of India, murder and forgery and under the Unlawful Activities (Prevention) Act.

A Canadian citizen of Pakistani origin who was based in Chicago, Tahawwur Rana is accused of playing a key role in the attacks that cost 166 lives.

Pakistani-American terrorist David Coleman Headley, prime accused in the 2008 attack, had said Rana had extended logistical and financial support for the terror operation and in its run-up. Headley had conducted a recce of Mumbai before the attacks by posing as an employee of Rana’s immigration consultancy.

The Federal Bureau of Investigation (FBI) arrested Rana in Chicago in October 2009 — a year after the Mumbai attacks — for providing support for an aborted plan to attack a newspaper in Danish capital Copenhagen and providing material support to Pakistan-based terror group Lashkar-e-Taiba, which was responsible for the Mumbai attacks. In 2011, Rana was convicted in the US for conspiracy and was lately lodged at a metropolitan detention centre in Los Angeles.

During a joint press conference with Prime Minister Narendra Modi in the White House in February, President Donald Trump had announced that his administration has approved the extradition of “very evil” Rana. 

“I am pleased to announce that my administration has approved the extradition of one of the plotters and one of the very evil people of the world, having to do with the horrific 2008 Mumbai terrorist attack to face justice in India. So he is going to be going back to India to face justice,” President Trump had said.

The three-day attack that devastated India’s financial capital in 2008 had targeted hotels, a train station and a Jewish center in Mumbai. India has said that Lashkar-e-Taiba orchestrated the attacks. Pakistan’s government has denied any involvement.

GT vs RR Live: Squads –

Gujarat Titans: B Sai Sudharsan, Shubman Gill (Captain), Jos Buttler (wk), Shahrukh Khan, Sherfane Rutherford, Rahul Tewatia, Rashid Khan, Kagiso Rabada, Ravisrinivasan Sai Kishore, Mohammad Siraj, Prasidh Krishna, Ishant Sharma, Washington Sundar, Glenn Phillips, Anuj Rawat, Mahipal Lomror, Arshad Khan, Jayant Yadav, Nishant Sindhu, Kulwant Khejroliya, Gerald Coetzee, Manav Suthar, Kumar Kushagra, Gurnoor Brar, Karim Janat.

Rajasthan Royals: Sanju Samson (Captain), Yashasvi Jaiswal, Shubham Dubey, Nitish Rana, Riyan Parag, Dhruv Jurel (w), Shimron Hetmyer, Jofra Archer, Maheesh Theekshana, Tushar Deshpande, Sandeep Sharma, Fazalhaq Farooqi, Kunal Singh Rathore, Akash Madhwal, Kumar Kartikeya, Kwena Maphaka, Wanindu Hasaranga, Yudhvir Singh Charak, Ashok Sharma, Vaibhav Suryavanshi.

US stock markets showed a mixed but slightly positive performance on Wednesday, with the Nasdaq Composite leading the charge. Investors appeared to focus on broader market trends, buoyed by solid earnings reports and continued growth in tech stocks.
As of 9:50 AM GMT-4 on April 9, 2025, the Dow Jones Industrial Average had climbed by 21.35 points, or 0.057%. The S&P 500 also posted gains adding 19.39 points (0.39%) to reach 5,002.16. The Nasdaq Composite surged by 190.59 points, or 1.25%, reaching 15,458.50, as technology stocks led the broader rally.
Meanwhile, Global markets experienced significant declines on Wednesday as tensions between the US and China escalated. China retaliated to US tariffs by imposing new levies of 84% on US goods, leading US equity futures to drop by 1.7%. European stocks followed suit, plummeting more than 4%, according to Bloomberg.
The market selloff intensified as the yield on 30-year US Treasuries surged above 5% for the first time since November 2023. This signalled growing concerns about the status of US bonds as a safe haven. The bond market turmoil spread globally, with UK borrowing costs reaching their highest level since 1998 and Japanese 40-year bond yields hitting a record peak. The US dollar weakened for a second consecutive day, Bloomberg reported.
“We’re well into an escalation phase in the trade war, and investors have nothing to hold onto at the moment,” said Alexandre Baradez, chief market analyst at IG Markets. “What’s clear now is that the US bond market is no longer a safe haven and is piling pressure on stock markets,” he added, as noted by Bloomberg.
Shares of major pharmaceutical companies such as Pfizer, Eli Lilly, and Bristol-Myers Squibb fell by approximately 3% after President Trump indicated that the US would soon announce “a major tariff on pharmaceuticals,” according to Bloomberg.
The worsening trade conflict, with tariffs on China rising to 104%, triggered alarm bells among investors, including Bill Ackman. Economists at JPMorgan and Goldman Sachs raised the probability of a US recession, a scenario that could complicate the Federal Reserve’s ability to respond to potential inflation driven by the new tariffs.
Ray Dalio, founder of Bridgewater Associates, warned of a “once-in-a-lifetime” breakdown in global monetary, political, and geopolitical systems. Alexandre Hezez, CIO at Group Richelieu, also expressed concerns that high volatility could trigger market accidents.
In the bond markets, the 10-year US Treasury yield rose by five basis points to 4.35%, while the dollar index fell. Investors sought refuge in safer assets, including the Japanese yen and Swiss franc, as the euro climbed above $1.10, according to Bloomberg.
US Treasury Secretary Scott Bessent stated on Wednesday that after decades of growth on Wall Street, it is now time for smaller institutions to thrive, as President Donald Trump’s new tariffs added to market instability.
“Wall Street has become wealthier than ever, and it will continue to prosper,” Bessent said during his speech at the American Bankers Association’s Washington Summit.
“But for the next four years, the Trump agenda will focus on Main Street—smaller businesses, investors, and institutions,” he added.
US equity futures saw a sharp decline, with the S&P 500 futures dropping 1%, Nasdaq 100 futures slipping 0.8%, and Dow futures falling 1.3%. The Stoxx Europe 600 index also faced heavy losses, plummeting 3.8%. This downturn reflected the growing unease in the markets amid the escalating US-China trade war, according to Bloomberg.
In currency markets, the Bloomberg Dollar Spot Index fell by 0.5%, signaling weakening confidence in the US dollar. Meanwhile, the euro rose 0.7% to $1.1039, the British pound gained 0.4% to $1.2815, and the Japanese yen surged 1% to 144.82 per dollar, as investors flocked to safer currencies amid rising global uncertainties.
Cryptocurrency markets also saw declines, with Bitcoin falling 0.7% to $76,482.09, and Ether dropping 1.3% to $1,460.84, as the broader market downturn intensified.
Commodities were not immune to the turmoil, with West Texas Intermediate (WTI) crude oil plunging 5.7% to $56.21 per barrel. In contrast, gold prices rose by 2.5%, climbing to $3,057.26 per ounce, as investors sought refuge in precious metals amidst growing volatility, as reported by Bloomberg.

A 30-year-old woman with three children converted to Hinduism and married a 12th-grade student in a temple ceremony in Uttar Pradesh’s Amroha district on Wednesday, police officials said.

According to Hasanpur Circle Officer Deep Kumar Pant, the woman, Shivani, was previously known as Shabnam. She has no living parents and has been married twice before.

UP is a state which has an anti-conversion law in place. The Uttar Pradesh Prohibition of Unlawful Conversion of Religion Act, 2021 bars religious conversion through force, deceit or any other fraudulent means.

Police said they are currently reviewing the circumstances surrounding the marriage, but no legal complaints have been filed so far.

The circle officer said that Shivani first married a man in Meerut, but the marriage ended in divorce. She then married Taufiq, a resident of Saidanwali village, who was left disabled after a road accident in 2011.

Recently, she developed a relationship with a boy in Class 12 and aged around 18.

Subsequently, Shabnam sought and obtained a divorce from Taufiq on Friday last week. Later, she converted to Hinduism and adopted the name Shivani.

Shiva’s father, Dataram Singh, a Saidanwali resident, told reporters that he supports his son’s decision and that the family is happy if the couple is happy. “We only hope that both live together peacefully,” he said.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

NEW Delhi: The Supreme Court on Wednesday slammed the Centre regarding delays in establishing a cashless medical treatment scheme for motor accident victims. The court summoned the road transport ministry secretary for clarification.
Justices Abhay S Oka and Ujjal Bhuyan noted non-compliance with their January 8 order.
“The time granted has expired on March 15, 2025. This is a serious breach and violation of not only orders of this court but a violation of implementing a very beneficial legislation. We direct the secretary, ministry of road transport and highways to appear on video-conferencing and explain why the directions of this court were not complied with,” stated the bench.
The court observed that senior government officials respond seriously only upon being summoned.
Additional solicitor general Vikramjeet Banerjee, representing the Centre, cited “bottle necks” as reasons.
The court responded firmly, stating that the legislation was meant to benefit common people and prevent loss of lives due to lack of cashless treatment facilities. They warned of potential contempt proceedings.
The secretary was instructed to appear on April 28 for explanation.
The court additionally instructed the transport department secretary to provide written directives to district magistrates regarding uploading hidden hit-and-run claims on the GIC portal.
On January 8, the court had directed the Centre to create a scheme for cashless treatment during the ‘golden hour’ as per law.
Referencing Section 162(2) of the Motor Vehicles Act, 1988, the government was ordered to implement the scheme by March 14.
The Act defines golden hour under Section 2 (12-A) as the crucial one-hour period post-trauma when medical intervention is most effective.
The court emphasised that financial and procedural delays often result in fatalities.
It highlighted the Centre’s statutory obligation under Section 162 to create a cashless treatment scheme, supporting Article 21’s right to life guarantee.
The law requires insurance companies to provide treatment for accident victims during the golden hour according to the MV Act scheme.
Despite being effective from April 1, 2022, the scheme remained unimplemented, necessitating court intervention.
The Centre proposed a draft limiting treatment cost to Rs 1.5 lakh for seven days, which the petitioner’s counsel deemed inadequate.
The GIC was assigned to manage hit-and-run compensation claims and develop a streamlined portal. This portal would facilitate document uploads, notify states of deficiencies, and reduce processing delays. As of July 31, 2024, 921 hit-and-run compensation claims remained pending due to documentation issues. The court directed GIC to resolve these matters.
GIC was instructed to complete portal development and report compliance by March 14, 2025.