Trump indicates flexibility on reciprocal tariffs

US President Donald Trump announced that there would be flexibility regarding reciprocal tariffs set to start on April 2, indicating he is open to considering exceptions requested by various stakeholders. Trump also revealed plans to communicate with Chinese President Xi Jinping in light of escalating trade tensions and retaliatory tariffs imposed by Beijing on US agricultural products. John Williams, president of the New York Federal Reserve, emphasized concerns about economic uncertainty and the potential job losses resulting from tariffs. Many economists argue that the detrimental effects of tariffs on employment and the economy outweigh any anticipated benefits.