Trump warns of ‘transition cost’ from tariffs

President Trump warns of transition costs from tariff policies amid worsening trade war with China, seeking economic reordering.

U.S. President Donald Trump on Thursday (April 10, 2025) warned of the “transition cost” from his tariff policies, as Wall Street stocks fell again over the worsening trade war with China.

“There will be a transition cost, and transition problems, but in the end, it’s going to be a beautiful thing,” Mr. Trump said as he seeks to reorder the world economy by forcing manufacturers to base themselves in the United States.

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Meanwhile, the White House clarified that Chinese imports will be tariffed at 145%, not the 125% rate that Mr. Trump had written about in his post on Truth Social on Wednesday (April 9, 2025), once other previously announced tariffs were included.

Mr. Trump at his cabinet meeting expressed hope that he could get an agreement with China, though he didn’t offer any specifics on what he was seeking.

“Well, we’ll see what happens with China,” Mr. Trump said. “I would love to be able to work a deal.”

Kevin Hassett, director of the White House National Economic Council, told Fox News’ “Fox and Friends” on Wednesday (April 9, 2025) that the administration already has “offers on the table from more than 15 countries.”