Trump’s tariff reversal
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 10 April 2025
⏱️ 11 minutes
🧾️ Download transcript
Summary
US stocks surged on Wednesday after Donald Trump paused ‘reciprocal’ tariffs for 90 days. Plus, the EU and China are working on a new trade relationship because of the levies. Meanwhile, Apple is looking to boost production in India.
Mentioned in this podcast:
EU calls for ‘negotiated resolution’ with China in face of US tariffs
Apple turns to India to help ease Trump’s China tariffs
US stocks soar as Donald Trump backs down in global trade war
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | We're Equinor, an energy company searching for better. Currently, we supply 27% of the UK's gas, |
| 0:07.0 | 15% of its oil, and we're playing our part in the UK's energy transition. In 2023, we invested |
| 0:14.1 | 20% of our global gross spend in renewables and lower carbon solutions. Today, our wind farms power |
| 0:20.0 | 750,000 homes, |
| 0:22.0 | and we expect this to grow to over 7 million UK households. |
| 0:25.7 | We're an energy company searching for better. |
| 0:28.2 | Equinore.co.uk. |
| 0:33.5 | Good morning from the Financial Times. |
| 0:35.5 | Today is Thursday, April 10th, |
| 0:37.8 | and this is your FT News briefing. |
| 0:40.1 | Wall Street jumped for joy after the Trump administration backed off its trade war. |
| 0:45.2 | And the EU is looking to collaborate more with China. |
| 0:48.8 | Meanwhile, Apple is taking a harder look at its operations in India. |
| 0:53.7 | I'm Mark Filipino, and here's the news you need to start your day. |
| 1:09.3 | The Trump administration has called pause on some of its most aggressive tariffs. |
| 1:14.5 | We're going to go down to a 10% baseline tariff. |
| 1:18.9 | Treasury Secretary Scott Besant told reporters on Wednesday that most of Trump's so-called reciprocal tariffs would be paused for 90 days. |
| 1:27.3 | That's to make time for countries to negotiate new trade deals with the White House. so-called reciprocal tariffs would be paused for 90 days. |
| 1:31.6 | That's to make time for countries to negotiate new trade deals with the White House. |
| 1:40.3 | We have just been overwhelmed by the response from mostly our allies who want to come and negotiate in good faith. |
| 1:42.9 | China, though, was singled out. The country got hit with even higher tariffs, Besson |
| 1:46.0 | said, because it retaliated. They kept escalating and escalating, and now they have 125% tariffs |
... |
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