Stocks Soar as Trump Pauses Tariffs | 4.10.25
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What are the key updates on Trump's tariff pause?
I did a 90-day pause for the people that didn't retaliate. At the end of a year or shorter, I think we're going to have something that nobody would have dreamt possible.
Trump pauses tariffs and sends the market soaring. I'm Georgia Howe with Daily Wire Editor-in-Chief John Bickley. It's Thursday, April 10th, and this is Morning Wire. While the market recovers, the Trump administration says it's time to focus on everyday Americans.
For the last four decades, Wall Street has grown wealthier than ever before. But for the next four years, the Trump agenda is focused on Main Street.
And will China hold out in the tariff war with Trump? We talked to a supply chain expert about what Beijing will do next.
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In a stunning development Wednesday, President Trump paused tariffs on all trading partners with the exception of China.
Daily Wire senior editor Cabot Phillips is here to break down what led to the decision and how markets responded. So Cabot, a really remarkable 24 hours. Where do things stand now?
How has the stock market reacted to the tariff pause?
Yeah, one week ago, President Trump enacted the largest tariffs in a century. And then yesterday, with a single social media post, he put nearly all of them on pause. Trump announced in a Truth Social post that, effective immediately, there would be a 90-day pause on nearly all tariffs. In the meantime, a flat 10% rate will go into effect. If you walked outside yesterday afternoon and felt a strong breeze, that was actually the collective sigh of relief from world leaders making its way across the globe.
Well, and investors were also joining in that relief. Tell us about the market response.
Well, the president said Wednesday morning that it was a, quote, great time to buy. And he was not kidding. Within five minutes of his announcement, trillions of dollars in value have been added to the markets. By the time markets closed, the Dow was up more than 2,900 points, nearly 8%. The S&P skyrocketed nearly 10%, the largest one-day gain since 2008. And the Nasdaq saw its biggest daily gain in nearly a quarter century, surging 12%. All told, the broad market index on Wall Street saw its third largest gain since World War II. Hopefully some of our listeners bought the dip because the market appears to be roaring back.
Right. So let's get to China. That's the one country where Trump offered no relief.
Why is China excluded from the tariff pause?
Yeah, quite the opposite. Remember, while the vast majority of our trading partners held off on retaliatory tariffs and sought a deal, Beijing raised their rates to 34 percent and then 84 percent. That clearly outraged the president, who said, quote, based on the lack of respect that China has shown to the world's markets, I'm hereby raising the tariff charged to China by the United States of America to 125% effective immediately. We're talking hundreds of billions of dollars worth of tariffs now on the table. The White House says the Chinese have shown the world their hand and proven once and for all that they cannot be trusted to operate fairly. As Treasury Secretary Scott Besson put it, Beijing fell into President Trump's trap.
What China is doing will affect their economy much more than it will ours. This was his strategy all along. And you might even say that he goaded China into a bad position. They responded. They have shown themselves to the world to be the bad actors.
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Chapters
5 chapters
1
What are the key updates on Trump's tariff pause?
0:03–1:50
2
How has the stock market reacted to the tariff pause?
1:50–3:06
3
Why is China excluded from the tariff pause?
3:06–6:12
4
What are the next steps for the U.S. in trade negotiations?
6:12–9:00
5
How is the U.S. leveraging tariffs against China?
9:00–14:43
Speakers
7 identifiedMore from Morning Wire
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