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Iran MPs Threaten to Derail Vienna Talks

Part of the meeting of the JCPOA Joint Commission in Vienna, Austria (EU Delegation in Vienna)
Part of the meeting of the JCPOA Joint Commission in Vienna, Austria (EU Delegation in Vienna)
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Iran MPs Threaten to Derail Vienna Talks

Part of the meeting of the JCPOA Joint Commission in Vienna, Austria (EU Delegation in Vienna)
Part of the meeting of the JCPOA Joint Commission in Vienna, Austria (EU Delegation in Vienna)

Iranian hardliners in the parliament have indicated that they will block a possible settlement in negotiations aimed at resuming the 2015 nuclear deal, known formally as the Joint Comprehensive Plan of Action (JCPOA).

“The results of the nuclear negotiations in Vienna must be in line with Iranian law, otherwise they will be illegal,” warned MP Alireza Salimi.

Tasnim News Agency reported that a settlement between the two sides would lead Washington to partially lift the sanctions, however it would not be legal unless approved by parliament.

A nuclear law passed by the Iranian parliament last year calls for the lifting of all sanctions as a condition for Iran to comply with the terms of the 2015 nuclear deal.

Meanwhile, Iranian Foreign Minister Mohammad Javad Zarif will visit Qatar and Iraq Sunday.

Foreign Ministry spokesman Saeed Khatibzadeh said in a statement that the tour comes within the framework of developing bilateral relations and addressing regional and international talks.

During his visit, Zarif will meet a number of prominent officials in the two countries, according to Khatibzadeh.

Diplomats from Britain, China, France, Germany, Iran, and Russia have been meeting in a Vienna hotel to discuss a return to the deal, while US envoys are participating indirectly in the talks from a nearby hotel.

Meanwhile, Time of Israel quoted Brett McGurk of the US National Security Council as saying that no sanctions would be removed before Washington gets clear commitments on Iran’s return to the 2015 accord.

“Until we get somewhere and until we have a firm commitment, and it’s very clear that Iran’s nuclear program is going to be capped, the problematic aspects reversed and back in a box, we are not going to take any of the pressure off,” said McGurk.

He said that with talks resuming in Vienna on Monday, “there’s a very long way to go and this process is complicated.”

McGurk stressed that the US is “not going to pay anything upfront just to get a process going. We have to see from the Iranians a fundamental commitment and agreement to put their nuclear program back in a box that we can fully inspect and observe.”

Iran has pressed for the US to lift all sanctions imposed under former President Donald Trump before it rolls back the steps Tehran took away from the 2015 deal in protest.

The Biden administration had repeatedly said that it would only return to the nuclear deal if Iran first returned to compliance.

However, on Tuesday, US State Department Spokesperson Ned Price said that Washington would only need to be sure that Iran intended to return to compliance.

Iranian President Hassan Rouhani said that 60-70 percent of issues had been resolved in Vienna.

Israel is worried that Washington is rushing too quickly to return to the 2015 accord and is ignoring the concerns of Israel and other Middle Eastern countries.

Israeli Chief of Staff Aviv Kohavi will travel to the US on Sunday to discuss the threat of Iran’s nuclear program and its entrenchment throughout the region.

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Trump Pauses Tariffs on Most Nations for 90 Days, Raises Taxes on Chinese Imports

A crane lifts an imports container from the cargo ship Epaminondas while it is docked at the Port of Baltimore, Wednesday, April 9, 2025, in Baltimore. (AP)
A crane lifts an imports container from the cargo ship Epaminondas while it is docked at the Port of Baltimore, Wednesday, April 9, 2025, in Baltimore. (AP)
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Trump Pauses Tariffs on Most Nations for 90 Days, Raises Taxes on Chinese Imports

A crane lifts an imports container from the cargo ship Epaminondas while it is docked at the Port of Baltimore, Wednesday, April 9, 2025, in Baltimore. (AP)
A crane lifts an imports container from the cargo ship Epaminondas while it is docked at the Port of Baltimore, Wednesday, April 9, 2025, in Baltimore. (AP)

Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised the tax rate on Chinese imports to 125%.

It was seemingly an attempt to narrow what had been an unprecedented trade war between the US and most of the world to a showdown between the US and China. The S&P 500 stock index jumped nearly 7% after the announcement, but the precise details of Trump's plans to ease tariffs on non-China trade partners were not immediately clear.

Trump posted on Truth Social that because "more than 75 Countries" had reached out to the US government for trade talks and have not retaliated in meaningful way "I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately."

The 10% tariff was the baseline rate for most nations that went into effect on Saturday. It's meaningfully lower than the 20% tariff that Trump had set for goods from the European Union, 24% on imports from Japan and 25% on products from South Korea. Still, 10% would represent an increase in the tariffs previously charged by the US government.

The announcement came after the global economy appeared to be in open rebellion against Trump's tariffs as they took effect Wednesday, a signal that the US president was not immune from market pressures.

Business executives were warning of a potential recession caused by his policies, some of the top US trading partners are retaliating with their own import taxes and the stock market is quivering after days of decline.

White House press secretary Karoline Leavitt said the walk back was part of some grand negotiating strategy by Trump.

"President Trump created maximum negotiating leverage for himself," she said, adding that the news media "clearly failed to see what President Trump is doing here. You tried to say that the rest of the world would be moved closer to China, when in fact, we’ve seen the opposite effect the entire world is calling the United States of America, not China, because they need our markets."

But market pressures had been building for weeks ahead of Trump's move.

Particularly worrisome was that US government debt had lost some of its luster with investors, who usually treat Treasury notes as a safe haven when there's economic turbulence. Government bond prices had been falling, pushing up the interest rate on the 10-year US Treasury note to 4.45%. That rate eased after Trump's reversal.

Gennadiy Goldberg, head of US rates strategy at TD Securities, said before the announcement that markets wanted to see a truce in the trade disputes.

"Markets more broadly, not just the Treasury market, are looking for signs that a trade de-escalation is coming," he said. "Absent any de-escalation, it’s going to be difficult for markets to stabilize."

John Canavan, lead analyst at the consultancy Oxford Economics, noted that while Trump said he changed course due to possible negotiations, he had previously indicated that the tariffs would stay in place.

"There have been very mixed messages on whether there would be negotiations," Canavan said. "Given what's been going on with the markets, he realized the safest thing to do is negotiate and put things on pause."

Presidents often receive undue credit or blame for the state of the US economy as their time in the White House is subject to financial and geopolitical forces beyond their direct control.

But by unilaterally imposing tariffs, Trump is exerting extraordinary influence over the flow of commerce, creating political risks and pulling the market in different directions based on his remarks and social media posts. There still appears to be 25% tariffs on autos, steel and aluminum, with more imports set to be tariffed in the weeks ahead.

On CNBC, Delta Air Lines CEO Ed Bastian said the administration was being less strategic than it was during Trump's first term. His company had in January projected it would have its best financial year in history, only to scrap its expectations for 2025 due to the economic uncertainty.

"Trying to do it all at the same time has created chaos in terms of being able to make plans," he said, noting that demand for air travel has weakened.

Before Trump's reversal, economic forecasters say his second term has had a series of negative and cascading impacts that could put the country into a downturn.

"Simultaneous shocks to consumer sentiment, corporate confidence, trade, financial markets as well as to prices, new orders and the labor market will tip the economy into recession in the current quarter," said Joe Brusuelas, chief economist at the consultancy RSM.

Treasury Secretary Scott Bessent has previously said it could take months to strike deals with countries on tariff rates, and the administration has not been clear on whether the baseline 10% tariffs imposed on most countries will stay in place. But in an appearance on "Mornings with Maria," Bessent said the economy would "be back to firing on all cylinders" at a point in the "not too distant future."

He said there has been an "overwhelming" response by "the countries who want to come and sit at the table rather than escalate." Bessent mentioned Japan, South Korea, and India. "I will note that they are all around China. We have Vietnam coming today," he said.

What's not yet known is what Trump does with the rest of his tariff agenda. In a Tuesday night speech, he said taxes on imported drugs would happen soon.