Karoline Leavitt tears into media for missing Trump's 'art of the deal' after stunning tariffs U-turn: Live updates

By Nikki Schwab, Chief Campaign Correspondent

White House press secretary Karoline Leavitt took a swipe at reporters outside the West Wing Wednesday, pushing that President Donald Trump's wild turnaround on reciprocal tariffs was all part of a plan.

Many of you in the media clearly missed the Art of the Deal. You clearly failed to see what President Trump is doing here.

Her comments came as she stood alongside Treasury Secretary Scott Bessent after Trump reversed course on implementing the tariffs - keeping all tariffs at just 10 percent and pausing the higher reciprocal rates, while raising tariffs on Chinese goods.

The Art of the Deal is the name of Trump's best-selling 1987 business book.

Both Leavitt and Bessent tried to spin Trump's move as not one motivated by the stock markets tanking.

Instead, Bessent said claimed that Trump had 'created maximum negotiation leverage' by allowing the tariffs to go into effect and then reversing them less than 14 hours later.

'This was his strategy all along,' Bessent claimed.

By Nikki Schwab, Chief Campaign Correspondent

Treasury Secretary Scott Bessent discussed China's motivations after Beijing retaliated against President Donald Trump's tariffs.

The U.S. escalated things in return, by imposing 125 percent tariffs on Chinese goods, up from the 104 percent that went into effect at 12:01 a.m. Wednesday.

'It's China's decision that we have the deficit with them. They sell us almost five times what we sell them. So again, I think it's an "own goal" by China,' Bessent said.

He wouldn't go as far as calling the current back-and-forth with Beijing a 'trade war' when a reporter used that term.

'Well, I'm not calling it a trade war but I'm saying that China has escalated and President Trump responded very courageously to that.'

Treasury Secretary Scott Bessent talked up the prospect of reaching deals with individual trading partners in the wake of Trump’s stunning tariff turnaround.

With markets already spiking, he said at the White House that South Korea, Japan, and Taiwan had expressed interest in new ‘big LNG project’ in Alaska.

He said he was at the Japanese ambassador to the U.S.’s home last night, where he had a ‘good chat.’

Bessent said he has a meeting with Vietnam today, and hopes things will move in a ‘good direction.’

He described the talks as ‘bespoke,’ after Trump called for tailored negotiations rather than ‘off the rack’ ones.

‘You might even say that he goaded China into a bad position,’ said Bessent.

By Geoff Earle, Deputy U.S. Political Editor

Treasury Secretary Scott Bessent told reporters at the White House that Trump's sudden tariff pause benefited more than 75 countries who opted to negotiate rather than hit back at the U.S.

'It took great courage for him to stay the course until this moment,' Bessent said of President Trump, whose moves set markets tanking before his sudden turnaround.

He said his message to countries previously had been 'do not retaliate and you will be rewarded.'

'Every country in the world that wants to come and negotiate: we are willing to hear you,' Bessent told U.S. trading partners, while markets rebounded after fears of a new global recession amid a multi-pronged trade war.

Bessent singled out China, that Trump is hitting with a new 125 percent tariff, 'due to their insistence on escalation.'

By Geoff Earle, Deputy U.S. Political Editor

Amid a global market meltdown, President Trump announced a 90-day pause in his new ‘reciprocal' tariffs.

He posted Wednesday that he had authorized a ‘substantially lowered’ tariff ‘during this period, of 10 percent, also effective immediately.' Trump also announced he was boosting the tariffs on China, to 125 percent – with that raised tariff 'effective immediately.'

That maintained the 10 percent tariff 'floor,' while pausing the additional tariffs that were imposed on individual countries.

China hit back against Trump’s tariff earlier with its own tariff of 84%, even as other nations held off and sought to deal with the stunning new barriers through negotiations.

Markets rebounded immediately Wednesday afternoon, with the Dow Jones Industrial Average jumping more than 5 percent in the minutes after Trump posted his comments.

Stocks had taking a beating since Trump announced the tariffs last week, and on Wednesday the bond market was also suffering, as interest rates ticked up.

Trump, who has been dug in for days despite market turmoil and pushback, said he was acting 'based on the fact that more than 75 Countries' reached out to negotiate.

By Nikki Schwab, Chief Campaign Correspondent

Michelle Obama finally pushed back on the rumors that she and former President Barack Obama were headed for a divorce.

The former first lady sat down with actress Sophia Bush for an episode of her podcast Work in Progress and said her decision to skip President Jimmy Carter's funeral and President Donald Trump's inauguration were simply decisions she made for herself.

Her absence at both high-profile political events stoked divorce rumors, as did President Obama's admission last week that he was in a 'deep deficit' with his wife.

'That's the thing that we as women, I think we struggle with disappointing people. I mean, so much so that this year people were, you know, they couldn't even fathom that I was making a choice for myself that they had to assume that my husband and I are divorcing,' Obama said in the podcast episode, released Tuesday.

'That this couldn't be a grown woman just making a set of decisions for herself, right?' she continued.

Attorney General Pam Bondi and FBI Director Kash Patel announced the interception of nearly 50,000 pounds of illegal drugs.

The $509 million worth of illicit narcotics were seized in Port Everglades, Florida.

Patel and Bondi held a press conference in the Sunshine State on Wednesday to announce the massive operation.

Former Governor Mike Huckabee will serve as the next U.S. Ambassador to Israel.

The Senate confirmed the Trump ally and former presidential candidate in a vote 53 to 46.

The vote came down nearly along party lines with Senator John Fetterman being the only Democrat to support his confirmation.

Senator Ted Cruz is staying far away as the Republican Senate primary in Texas heats up.

Texas Attorney General Ken Paxton announced he would challenge incumbent GOP Senator John Cornyn for the seat launching what could be one of the nastiest and most expensive primaries in the state.

Paxton said it's time for a change in Texas, but Cornyn fired back that Paxton is a 'fraud' in a blistering response to his bid.

'I'm not going to get involved in the race,' Cruz told reporters when asked about the race on Capitol Hill on Wednesday.

'Both John and Ken are friends of mine. I have worked closely with both of them. I respect the vote, and I trust the voters of Texas,' Cruz added.

The European Union greenlighted its first measures hitting back at President Donald Trump's tariff onslaught.

It targeted more than $20 billion of U.S. goods including soybeans, motorcycles, chewing gum, peanut butter and beauty products.

The levies of up to 25 percent are retaliation for U.S. duties on steel and aluminum imposed last month.

Europe's response to Trump's latest tariffs salvo have yet to be announced.

In a statement European member states said:

These countermeasures can be suspended at any time should the U.S. agree to a fair and balanced negotiated outcome

Jon Michael Raasch, Political Reporter for DailyMail.com

President Donald Trump floated his interest in a proposal to tax the rich last week, according to a new report.

During meetings held with GOP senators at the White House, Trump signaled he is open to raising taxes on the highest earners in the country, three sources familiar with the meeting revealed to Semafor.

The comment came during a sit-down with Republicans on the Senate Budget Committee and Senate Majority Leader John Thune.

During the session Sen. Lindsey Graham, R-S.C., asked the president how he felt about a proposal that would increase taxes on the highest earners.

Trump responded that he was fine with that idea, the three sources shared.

However, those in attendance noted to the outlet that the 78-year-old Republican's support was far from full-throated.

His nod towards raising taxes for the America's wealthiest comes after White House officials have floated that could be a way to pay for other priorities of the president.

Jon Michael Raasch, Political Reporter for DailyMail.com

Texas Democrat Rep. Jasmine Crockett is in hot water for explaining to a crowd at a historically black church over the weekend that immigration is important because 'we done picking cotton.'

Speaking at a church in Waterbury, Connecticut's Grace Baptist Church to celebrate its 125th anniversary, Crockett made several shocking statements.

A viral clip of her address to the congregation begins with the Democrat explaining how she has had to travel around the nation educating people about the importance of immigration.

'So I had to go around the country and educate people about what immigrants do for this country, or the fact that we are a country of immigrants,' Crockett, 44, tells the crowd in the video.

'The fact is, ain't none of y'all trying to go and farm right now,' she said.

Meghan Markle has said she wants her As Ever products to bring 'joy' during a 'time of recession' - and does not expect Donald Trump's tariffs to impact the range.

The first items from the Duchess of Sussex's lifestyle brand sold out within an hour of going on sale last Wednesday - the same day the President announced his levies.

But she has insisted her As Ever brand, a joint venture with Netflix, is well positioned for uncertain economic times, because the products are all made in America.

By Katelyn Caralle, Senior U.S. Political Reporter

Elon Musk hasn't been shy about his opposition to Donald Trump's sweeping tariffs and is upping his war of words with the president's trade advisor Peter Navarro.

The Tesla and SpaceX billionaire boosted comments from conservative CNN pundit Scott Jennings, who is on his side of the fight and suggested his business savvy should be taken more seriously than Navarro's.

'I just think the relentless attacks on him – both from inside the people who support the president and outside – have frankly been unfair,' Jennings said.

Along with posting the clip to X, he added the caption: '[Elon Musk] is a patriotic American who happens to make THE most American car - Tesla. Attacks on Tesla were wrong.'

Musk replied to the post with three American Flag emojis.

President Donald Trump told American families now is a great time to buy amid market turmoil.

It came as markets crashed in the wake of his tariff war with the rest of the world.

Trump posted on Truth Social:

THIS IS A GREAT TIME TO BUY!!! DJT

Treasury Secretary Scott Bessent warned countries to stay away from China during a speech at the American Bankers Association on Wednesday, as the tariffs go into effect.

'That would be cutting your own throat,' Bessent said, warning that the Chinese business model was to keep producing goods and dumping them into foreign markets.

He said that China was making a mistake by escalating the trade war with the United States and said that many countries were willing to make a deal.

'At the end of the day. we can probably reach a deal with our allies, with the other countries that have been good military allies, not perfect economic allies and we can approach China as a group,' the said.

By Emily Goodin, senior White House correspondent

President Donald Trump went on a social media rampage Wednesday morning, telling Americans to ‘be cool’ as China and the European Union issued retaliatory tariffs against his own import taxes.

Stocks and bonds slumped as Trump doubled down on his trade war.

‘BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!,’ the president wrote on his Truth Social account.

His advice came as Beijing announced a levy on U.S. goods of 84% and the EU approve its first set of retaliatory measures that is expected to hit a long list of American goods. Additionally, a new poll from Reuters/Ispos showed 57% of Americans oppose the new tariffs, including a quarter of Trump's own Republican Party.

Trump, however, continued to sell his plan. The president argues that it will, in the long run, improve the American economy and bring more manufacturing into the United States.

'THIS IS A GREAT TIME TO BUY!!! DJT,' he wrote.

And, in another post, he advised companies to come to the USA.

‘This is a GREAT time to move your COMPANY into the United States of America, like Apple, and so many others, in record numbers, are doing. ZERO TARIFFS, and almost immediate Electrical/Energy hook ups and approvals. No Environmental Delays. DON’T WAIT, DO IT NOW!,’ he wrote on Truth Social.

Trump’s reciprocal tariffs on nearly 100 nations took effect overnight.

A majority of Americans disapprove of President Donald Trump's new tariffs and worry prices will increase on every day goods as a result of his trade war - including a shocking number of his MAGA supporters.

The new numbers from a Reuters/Ipsos poll came as Trump is doubling down on the tariffs he imposed on countries around the world, which sent the global stock markets into a nose dive and ratcheted up fears of a recession.

The poll found that 57% oppose the new tariffs, including a quarter of Trump's own Republican Party, while only 39% support the new import tax.

Trump team fires back at 'loser' China as insults fly in all-out tariff war: Live updates

Donald Trump's Treasury Secretary Scott Bessent let fly at China in the first U.S. response to Beijing's new tariffs.

He said it was 'unfortunate that the Chinese don't want to negotiate' and 'they are the "worst trade offenders.'

Bessent added:

This escalation is a loser for them.

The acting boss of the Internal Revenue Service is expected to resign after the Trump administration ordered the department hand over the tax data of undocumented migrants.

Elon Musk's DOGE has canceled at least $51 million for mind-boggling initiatives like shea butter marketing, mango drying and yogurt production.

The cost cutting group recently shared the eyebrow-raising expenditures on X.

'The US African Development Foundation has terminated $51M in grants,' the post stated.

China will impose 84 percent tariffs on U.S. goods from Thursday, up from the 34 percent previously announced, the finance ministry said on Wednesday.

It came after President Donald Trump imposed 104 percent tariffs on Beijing.

China told the World Trade Organization on Wednesday that the United States' decision threatens to further destabilize global trade.

It said:

The situation has dangerously escalated. As one of the affected members, China expresses grave concern and firm opposition to this reckless move.

While China opposes trade wars, it will firmly defend its legitimate interests.