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Billionaire Republican megadonor and Home Depot founder Ken Langone has ripped the Trump administration’s sweeping tariffs as “bulls–t” — claiming the president has been ill-advised amid the raging trade war. “I don’t understand the Goddamn formula,” Langone, a veteran GOP campaign donor, told the Financial Times on Monday. “I believe he’s been poorly advised by his advisers about this trade situation — and the formula they’re applying.”

The supply of many foreign-made goods into the US is likely to grind to a halt as a result of President Trump’s tariffs, sources told The Post Monday. A baseline tariff of 10% was applied to many countries Saturday, with heftier percentages applied to the “worst offenders,” which levy high tariffs on US goods they import, in two days. Companies producing everything from toys to luxury wristwatches said they are holding off shipping goods — risking America going from the land of plenty to the land of plenty unavailable. The first luxury items to leave circulation: Jaguar, Range Rover and...

Last Wednesday, standing at a podium in the White House Rose Garden, the president of the United States threw the world’s economy into turmoil. Having declared that America’s trade deficit represented a bona fide “emergency,” President Trump revealed a completely rewritten federal tariff regime. The result of these alterations was an increase in protectionist barriers that exceeded even the infamous Smoot-Hawley law in its scope. For two days, the stock market responded to this move by diving sharply downward. Monday morning, after a false report that the president was planning to endorse a 90-day pause in implementation, there was a...

A key Treasury auction this week could test one of the central planks of President Donald Trump's tariff strategy as markets reel amid the largest swings in Treasury yields in more than two decades. President Trump has insisted that his tariff plans, which will impose sweeping levies on goods imported from virtually every nation in the world, paid for by American companies and consumers, will ultimately benefit the domestic economy with lower interest rates even they slow growth and stoke inflation along the way. The Federal Reserve, meanwhile, wants to see more evidence of their impact on the world's biggest...

MAGA ally Ben Shapiro has stunningly turned on President Trump and urged him to listen to Elon Musk's criticism of his tariff policy. Shapiro, a long-time supporter of the president, smashed the illusion that tariffs are a good business deal for Americans to smithereens, with a startling insight on Monday: 'Musk is right. Musk happens to be 100 percent right about this.' The Tesla CEO has been in lockstep with the president on key voter issues since he returned to the White House, but came out swinging against tariffs and exposed a feud with the key advisor who helped bring...

As President Trump rolls out his economic program, there’s one question I haven’t seen asked much: What if it works? Trump’s supporters are rooting for its success. His opponents, out of a mixture of envy and self-interest, hope it craters. But what would actually happen if Trump achieves his aims? The White House hasn’t released a single integrated document spelling out its economic plan. But based on the moves made so far, and comments from Trump’s top economic aides, the outlines of his goals are coming clear. First, he’s looking to increase wages for working-class Americans, the core basis —...

Singapore expresses disappointment over U.S. tariffs on its exports despite a free-trade agreement and trade deficit with the U.S. Trade Minister Gan Kim Yong emphasizes diplomacy over retaliation and highlights talks with the U.S. to resolve concerns. Singapore will review economic forecasts due to the escalating issue. In a move that has sparked international economic tension, Singapore's trade minister expressed disappointment over the U.S. imposition of a 10% tariff on its exports, despite a free-trade agreement and trade deficit with the United States Trade Minister Gan Kim Yong, speaking at a press conference, assured that Singapore would not pursue retaliatory...

President Donald Trump doubled down on his tariffs position on Monday, taking to his Truth Social platform to point to a number of things that are happening amid the global market meltdown since his "Liberation Day" tariffs were announced last week."Rates are plummeting, oil prices are plummeting, deregulation is happening. President Trump is not going to bend," Trump wrote, quoting Fox Business host Maria Bartiromo.The president included a clip of Bartiromo's "Mornings with Maria" show, in which she highlighted several things taking place as the markets whipsawed early Monday.Bartiromo also said that Trump is trying to restore American independence so...

BEIJING, April 7 (Reuters) - Threats and pressure are not the right way to deal with China, a Chinese foreign ministry spokesperson said on Monday after describing U.S. President Donald Trump's "reciprocal tariffs" as bullying. The tariffs are "typical unilateralism and protectionism, and economic bullying", spokesperson Lin Jian told a regular press conference. He said that U.S. tariffs in the name of reciprocity only served its own interest at the expense of other countries.

Earlier today, President Donald Trump has issued a powerful ultimatum to the Chinese Communist Party: withdraw your new 34% retaliatory tariff on U.S. goods by tomorrow or face a crippling 50% tariff from the United States. Communist China’s tantrum came after President Trump’s bold and long-overdue move to impose reciprocal tariffs on Chinese imports—an action that millions of forgotten American workers have waited for decades to see. But instead of accepting the reality that their days of robbing the U.S. blind are over, the CCP is resorting to its usual playbook of deceit, deflection, and economic warfare. Beijing hit back...

Rep. Don Bacon, R-Neb., is planning to introduce legislation Monday that would restrict President Donald Trump's tariffs, as GOP opposition grows against the president's signature economic policy—though House Speaker Mike Johnson, R-La., is reportedly so far telling lawmakers to back the president. Key Facts House Republicans should “hold the line” on Trump’s tariffs and not oppose them, Johnson told his colleagues on a call Sunday, as reported by The Wall Street Journal, saying they should trust that Trump and his instincts will ultimately improve the economy, and just give the tariffs “time” to play out. Rep. Darrell Issa, R-Calif., asked...

Update(1759ET): Netanyahu did not get the quick or clear answer he was hoping for from President Trump in the Monday afternoon meeting in the Oval Office. Netanyahu pledged Israel will move quickly to close the trade gap and reduce trade barriers with Washington. “Israel can serve as a model for many countries who ought to do the same,” the Israeli leader said, adding, “I’m a free trade champion, and free trade has to be fair trade.” However, Trump indicated he might not reduce tariffs on Israel. “We give Israel $4 billion a year,” Trump said, and quipped in a troll-like...

It was imperative to get the administration’s tariff communications aligned, Bessent told Trump, and more focused on the endgame for Americans: better trade deals with foreign nations, according to people familiar with the conversation.

On Monday’s broadcast of the Fox Business Network’s “Kudlow,” host Larry Kudlow said that he doesn’t really think using trade deficits to calculate tariffs is a good idea and that if the Trump administration gets tax cuts and deregulation, it will spark growth and “We will grow faster than almost anybody. Therefore, almost by definition, by growing faster than the rest of the world, we’re always going to have a trade deficit.” While speaking with Treasury Secretary Scott Bessent, Kudlow said, “I don’t know if you heard Art Laffer in the prior interview, but Art doesn’t believe that the trade...

Catturd ™ @catturd2 Don Bacon and Rand Paul want these people deciding USA tariff policies instead of President Trump. 4:19 PM · Apr 7, 2025

President Trump is swinging the BIG UGLY hammer against the panda and the Beijing dragon behind it.President Trump (Via Truth Social) – “Yesterday, China issued Retaliatory Tariffs of 34%, on top of their already record setting Tariffs, Non-Monetary Tariffs, Illegal Subsidization of companies, and massive long term Currency Manipulation, despite my warning that any country that Retaliates against the U.S. by issuing additional Tariffs, above and beyond their already existing long term Tariff abuse of our Nation, will be immediately met with new and substantially higher Tariffs, over and above those initially set. Therefore, if China does not withdraw its...

Mr. President, take “yes” for an answer. On Monday, as the fallout from Liberation Day continued to rile markets, the European Union surrendered. “We have offered zero-for-zero tariffs for industrial goods,” European Commission President Ursula von der Leyen said. That would lower the price of pharmaceuticals, cars and other products that American companies export to the EU. It’s exactly the sort of agreement that would make President Trump’s tariff wars a success — forcing nations to make better deals for our workers. And if the agreement isn’t perfect, it’s at least a starting point. But is the administration even answering...

Benny Johnson @bennyjohnson 🚨BREAKING: Netanyahu announces Israel will be ending their trade barriers and tariffs on the United States: “We’re going to also eliminate trade barriers that have been put up unnecessarily. Mr. President, we are going to eliminate the tariffs." From Nick Sortor 2:38 PM · Apr 7, 2025

Dozens of foreign governments were trying to appeal to the president to have steep tariffs rolled back, but the president and his advisers have indicated negotiations could be difficult.President Trump’s plan to impose sweeping tariffs on most of America’s trading partners has governments across the globe racing to schedule phone calls, send delegations to Washington and offer up proposals to lower their import taxes in order to escape the levies. On Monday, European officials offered to drop tariffs to zero on cars and industrial goods imported from the United States, in return for the same treatment. Israel’s prime minister was...

The European Union has floated a “zero-for-zero” tariff resolution with the Trump administration after 20% import levies were imposed by Washington last week. “We have offered zero-for-zero tariffs for industrial goods as we have successfully done with many other trading partners,” European Commission President Ursula von der Leyen said Monday. “Because Europe is always ready for a good deal. So we keep it on the table,” she said at a press conference alongside Norwegian Prime Minister Jonas Gahr Støre. “We stand ready to negotiate with the US,” von der Leyen added. “We are also prepared to respond through countermeasures and...