Bessent: China is holding a ‘losing hand’ in tariff conflict
Scott Bessent, U.S. Treasury Secretary, states that China is maneuvering with a “losing hand” amid the escalating tariff exchanges between the two nations.
“This Chinese escalation was a significant error, as they are operating with a pair of twos,” Bessent remarked during an appearance on “Squawk Box.”
He suggests that other nations are more inclined to negotiate compared to China.
“If they put forward strong proposals at the negotiation table, we could reach favorable agreements,” he mentioned, “although some tariffs may remain as part of the final arrangement.”
Bessent added that administration officials are prioritizing which countries to approach for trade discussions.
— Jesse Pound
Ken Griffin of Citadel denounces Trump tariffs as ‘major policy blunder’
Ken Griffin, Founder and CEO of Citadel, addresses attendees at the Milken Conference 2024 Global Conference Sessions in Beverly Hills, California, on May 6, 2024.
David Swanson | Reuters
Ken Griffin, the Founder and CEO of Citadel, criticizes Trump’s tariffs, labeling them a “significant policy misstep” that will adversely affect middle-class Americans.
“I am genuinely concerned about us relinquishing our leadership role for the free world,” Griffin stated at an event commemorating the 100th anniversary of the University of Miami, according to Bloomberg.
“This is the direction we are heading,” the GOP benefactor asserted.
— Erin Doherty
Euronext CEO: U.S. is ‘unrecognizable’ and resembles emerging markets
Stephane Boujnah, CEO of Euronext, speaks during the company’s 13th annual conference in Paris on March 18, 2025.
Thibaud Moritz | Afp | Getty Images
According to Euronext CEO Stephane Boujnah, the recent declines in the market do not indicate panic, but rather a shift in asset allocation.
“Since the onset of this movement, capital is flowing out of the United States for reinvestment in Europe,” Boujnah stated during an interview with France Inter radio today.
He noted that investors are struggling to deal with Trump’s unpredictability, leading to a perception of the U.S. as “unrecognizable.”
“We are grieving the United States we once knew… which shared values and institutions with Europe,” he remarked. “It now appears more akin to an emerging nation.”
Euronext facilitates markets in multiple European cities, including Paris, Milan, Amsterdam, Brussels, and Dublin.
— Chloe Taylor
Finnish minister advocates for zero tariffs between U.S. and EU
Finland’s Foreign Minister Elina Valtonen addressing journalists at The Europa Building in Brussels on March 17, 2025.
Nicolas Tucat | Afp | Getty Images
Finnish Foreign Minister Elina Valtonen has called for zero tariffs between the U.S. and European Union, emphasizing the importance of avoiding a global trade war that could lead to a worldwide recession.
The EU has signaled a willingness to take action against Washington if no negotiations occur, although the details of potential countermeasures remain unspecified.
— Ruxandra Iordache
Today’s Schedule for Trump
President Donald Trump addressing reporters onboard Air Force One while en route to Joint Base Andrews on April 6, 2025.
Mandel Ngan | Afp | Getty Images
Today, Trump is set to sign energy-related Executive Orders in the afternoon and then deliver a speech to House Republicans in the evening, according to the White House itinerary.
3:00 p.m. Trump participates in an Executive Order signing event focused on unleashing American energy
White House East Room
6:45 p.m. Trump speaks at the National Republican Congressional Committee dinner
The National Building Museum
— Christina Wilkie
U.S. markets expected to open higher following three days of decline
Traders active on the floor of the New York Stock Exchange (NYSE) on April 07, 2025 in New York City.
Spencer Platt | Getty Images
China and EU explore potential trade diversion strategies
European Commission President Ursula von der Leyen speaking after a meeting with European car industry representatives at the EU Commission headquarters in Brussels, Belgium on March 3, 2025.
Yves Herman | Reuters
President von der Leyen and Chinese Premier Li Qiang engaged in “constructive” discussions today focusing on a potential trade diversion mechanism following the extensive tariffs imposed by the U.S.
“In light of the significant disruptions caused by the U.S. tariffs, President von der Leyen emphasized the need for Europe and China, as two of the largest global markets, to uphold a robust and equitable trading system,” an EU readout stated. She advocated for a “negotiated resolution to the current climate” to prevent further escalation.
“The leaders contemplated establishing a system to monitor potential trade diversions and address any developments accordingly,” according to the release.
Speculation suggests that Trump’s protectionist measures may drive U.S. trade partners toward China to recalibrate trade relations.
This conversation followed the U.S. imposing reciprocal tariffs of 34% on China and 20% on the EU last Wednesday, with Beijing already retaliating with its own 34% tariffs on the U.S., which is now considering additional counteractions.
— Ruxandra Iordache
U.S. Trade Representative set to testify before Senate at 10 a.m.
Jamieson Greer, newly appointed U.S. Trade Representative for President-elect Donald Trump, arrives for a meeting with Senator Bill Cassidy, a Republican from Louisiana, on Capitol Hill in Washington, DC, on December 10, 2024.
Stefani Reynolds | Bloomberg | Getty Images
Jamieson Greer, the recently confirmed U.S. Trade Representative, is scheduled to testify before the Senate Finance Committee today regarding “The President’s 2025 Trade Policy Agenda.”
This hearing will provide the Senate a significant opportunity to question a Trump administration official about the president’s trade and tariff plans since the announcement of the new tariff framework.
The hearing is set to commence at 10:00 a.m. ET, with CNBC.com live-streaming it on our platform.
— Christina Wilkie
Spain’s Prime Minister to visit Beijing and Hanoi as Europe reassesses trade ties
Spanish Prime Minister Pedro Sanchez at a press conference in Kunshan, Jiangsu province, China on September 11, 2024.
Xihao Jiang | Reuters
Spanish Prime Minister Pedro Sanchez plans to travel to China and Vietnam later this week as Europe adapts to a new 20% tariff rate.
Sanchez’s itinerary includes a visit to Hanoi on Wednesday, coinciding with the implementation of the new Trump tariffs, followed by a trip to Beijing, as stated by his office.
This trip highlights the urgent need for EU countries like Spain to reassess their trade relations following the introduction of Trump’s tariffs.
— Christina Wilkie
