Trump’s tariff stance: No red line, no retreat despite economic pain... President Donald Trump has made it clear that there is no “red line” — no specific level of market decline or economic hardship — that would compel him to abandon or reverse his aggressive tariff policy. In an interview with The Atlantic, Trump and his advisers emphasized that he is prepared to withstand significant short-term economic pain, including a recession, to reshape U.S. trade relationships over the long term.
Trump has described the tariffs as “medicine” for the U.S. economy, arguing that “temporary pain is necessary to achieve greater economic health and independence.” Even as global markets tumble and recession fears grow, Trump has remained defiant, telling Americans to “HANG TOUGH” and dismissing concerns raised by political allies and corporate leaders.
The Atlantic notes: “Trump’s commitment to tariffs — one of his few consistent ideological positions over decades — appears immune to political backlash, market downturns, or economic warning signs.”
Although some administration officials have framed the tariffs as temporary bargaining tools, Trump has signaled they could become a permanent feature of U.S. economic policy if necessary. Meanwhile, economists warn the deepening uncertainty could itself trigger a recession, comparing the current environment to past economic crises.
U.S. sets staggered trade talks under new negotiation template... The Trump administration plans to conduct staggered trade negotiations using a standardized framework to accelerate deals with roughly 18 major trading partners, according to the Wall Street Journal (WSJ), citing people familiar with the plans. The U.S. Trade Representative (USTR) has prepared a template outlining five broad negotiation categories: Tariffs and quotas, non-tariff barriers (such as regulations on U.S. goods), digital trade, rules of origin and economic security and commercial issues.
“USTR is working under an organized and rigorous framework and moving ahead quickly with willing trading partners,” a USTR spokeswoman told WSJ. “President Trump and USTR have made U.S. objectives clear, and our trading partners have a very good sense of what they can each individually offer.”
Negotiations are planned to occur in three waves — six countries each week — with a self-imposed July 8 deadline. Reciprocal tariffs could be imposed on countries that fail to reach an agreement, unless President Trump extends the current 90-day pause.
While officials are moving quickly, WSJ notes that some partners — including the European Union — have complained they are still awaiting specific U.S. demands. European Commissioner Valdis Dombrovskis said the EU won’t negotiate on changes to its value-added tax or agricultural subsidies. Similarly, the United Kingdom has ruled out altering its food or automotive safety standards.
Key countries like Mexico and Canada are not involved in this particular round since Trump’s reciprocal tariff order did not apply to them, and China appears to be on a separate negotiation track. Trump said recently that the U.S. and China have been in contact “every day,” though Chinese officials deny any substantial progress.
Ackman: Tariffs are driving companies out of China; time favors U.S. in trade war... Bill Ackman, CEO of Pershing Square, argued in an X statement that prolonged tariffs are accelerating the exodus of supply chains from China, undermining China’s long-term advantage in a trade war with the U.S. He believes both nations are incentivized to lower tariffs soon, warning that China faces “severe and permanent economic consequences” if it delays. Key points and quotes:
On the Supply Chain Shift: “The longer the tariffs persist, the more rapidly every company that has a supply chain based in China relocates it to India, Vietnam, Mexico, the U.S. or some other country.”
On the Business Reality: “There is no board of directors or management team who will ever again feel comfortable relying on China for a major portion of their supply chain. The damage has been done.”
On the Path Forward: “Both China and the U.S. are highly incentivized to take the tariffs down to more reasonable levels — say 10% to 20% — as quickly as possible.”
On Negotiation Strategy: “A pause, however, would not be a sign of weakness... It is just common sense.”
Warning to China: “If China stubbornly decides to hold out and not negotiate due to pride or other emotional issues, China will suffer that much more severe and permanent economic consequences.”
Of note: Ackman proposes a 180-day tariff pause to allow for negotiations, stressing that time benefits the U.S. while China faces mounting reputational and economic risks.
Rollins threatens Mexico livestock import ban over NWS outbreak... USDA Secretary Brooke Rollins on Saturday wrote: “As the New World Screwworm (NWS) outbreak is escalating, unless Mexico removes restrictions on USDA aircraft and waives customs duties on eradication equipment by April 30, the U.S. will close ports of entry to cattle, bison and equine from Mexico to protect American agriculture due to the escalating New World Screwworm outbreak.” Mexico may impose restrictions on USDA aircraft and testing equipment for several interrelated reasons, primarily rooted in regulatory, biosecurity, and sovereignty concerns.
Key points of the letter include:
- The NWS outbreak is expanding, and immediate action is needed to contain the pest and prevent its spread beyond the Isthmus of Tehuantepec.
- Restrictions imposed by Mexican aviation authorities on Dynamic Aviation, a USDA-contracted carrier, are hindering operations. These include temporary permits, limited flight days and logistical barriers. Mexican customs authorities are imposing import duties on essential aviation parts, dispersal equipment and sterile fly shipments, despite these being funded by the U.S. Government for the shared goal of pest eradication.
Requests to Mexico:
- Facilitate Dynamic Aviation’s operational clearance for at least one year or indefinitely.
- Waive import duties for all NWS-related materials provided by APHIS.
- Appoint a high-level contact to work directly with USDA-APHIS to resolve bureaucratic and regulatory obstacles.
If these issues are not resolved by April 30, USDA will restrict the importation of animal commodities (live cattle, bison, and equine) from Mexico to protect U.S. agriculture.
USDA suggests convening a U.S./Mexico NWS Aerial Dispersal Strategy Meeting to align strategies and ensure a seamless response.
The letter emphasizes the need for immediate and decisive action from Mexico to remove barriers and maintain the integrity of the eradication campaign.
The National Cattlemen’s Beef Association (NCBA) announced its full support for Rollins’ “decisive actions to safeguard the American cattle industry” against the growing danger of NWS.
EPA eyes nationwide emergency waiver for E15 summer sales amid global conflicts... EPA is under pressure to issue a nationwide emergency waiver allowing E15 fuel sales during the 2025 summer driving season. While earlier this year EPA advanced permanent waivers for eight Midwest states — with South Dakota and Ohio granted a one-year delay — the agency has not yet confirmed if it will again issue a temporary nationwide waiver, as it did in 2023 and 2024. Those waivers cited the Ukraine war and Middle East unrest as justification. Emergency E15 waivers last 20 days but have historically been renewed through summer. If approved, the initial waiver is expected by the end of April with a May 1 effective date to avoid disruptions before the June 1 seasonal fuel change. So, an EPA is announcement is possible this week.
Trump demands free passage for U.S. ships through Panama, Suez Canals... President Donald Trump called for American ships to have “free of charge” access through the Panama and Suez Canals, escalating his push to expand U.S. influence over vital global waterways. In a Truth Social post Saturday, Trump claimed the canals “would not exist without the United States” and said he directed Secretary of State Marco Rubio to “immediately take care of” the matter.
This follows Trump’s broader strategy of countering Chinese shipping dominance through tariffs, port fees and a revival of U.S. shipbuilding. Trump has already pressured Panama into guaranteeing free warship passage after raising concerns about Chinese control around the canal. Meanwhile, a CK Hutchison plan to sell its Panama port assets to a BlackRock-led group faces Chinese objections and financial hurdles.