Global markets rally after Trump pauses ‘reciprocal’ tariffs

[CRAIG NIGRELLI]

GOOD MORNING

I’M CRAIG NIGRELLI

IT’S THURSDAY APRIL 10TH, 2025

AND THESE ARE YOUR UNBIASED UPDATES:

THE TRUMP TARIFF REVERSAL SENDS MARKETS SOARING. WE HAVE THE EARLY NUMBERS, FROM OVERSEAS, TO START THURSDAY **AND** THE MOVES CHINA IS NOW MAKING IN RESPONSE TO 125 % PERCENT AMERICAN TARIFFS. 

AND — MORE LEGAL WRANGLING WHEN IT COMES TO THE TRUMP ADMINISTRATION’S DEPORTATION OF SUSPECTED MEMBERS OF THE VENEZUELAN GANG – TREN de ARAGUA AND THE USE OF THE ALIEN ENEMIES ACT.   ALSO, ADDITIONAL ARRESTS TO REPORT THIS MORNING.  

L3: GLOBAL MARKETS RALLY AFTER TRUMP PAUSES ‘RECIPROCAL’ TARIFFS

THIS MORNING — ASIAN AND EUROPEAN MARKETS are RALLYING IN RESPONSE TO PRESIDENT DONALD TRUMP’S DECISION TO SUSPEND  TARIFFS ON **NEARLY** ALL AMERICAN TRADING PARTNERS FOR 90 DAYS.

KEY ASIAN INDICES OPENED TODAY WITH NOTABLE RECOVERIES — A REPRIEVE AFTER A WEEK OF TURBULENCE AND SELLOFFS DRIVEN BY FEARS OF ESCALATING TRADE WARS AND RECESSIONS.

JAPAN’S NIKKEI  WAS UP 8 PERCENT WHILE THE BROADER TOPIX INDEX : BY MORE THAN 7 AND A HALF PERCENT.

SOUTH KOREA’S KOSPI ( COSS-PEE) INCREASED BY NEARLY 6 PERCENT,  WHILE TAIWAN’S TAIEX  JUMPED BY  MORE THAN 9 PERCENT. 

AND AUSTRALIA’S A-S-X 200 ROSE 4 POINT 6 PERCENT.

EVEN KEY CHINESE MARKETS WERE IN THE GREEN,  DESPITE PRESIDENT TRUMP ISOLATING AND CALLING OUT CHINA WHILE 0RAISING TARIFFS ON GOODS COMING FROM THE COMMUNIST COUNTRY, WELL ABOVE 100 %.

STRAIGHT ARROW NEWS REPORTER KARAH RUCKER HAS THE DETAILS ON PRESIDENT TRUMP’S LATEST MOVE THAT SENT THE AMERICAN MARKETS : SOARING.

ON WALL STREET,  THE DOW, NASDAQ AND S-AND-P 500 FUTURES ARE DOWN THIS MORNING, AHEAD OF TRADING. 

CHINA IS REPORTEDLY CONTACTING OTHER NATIONS IN AN APPARENT ATTEMPT TO FORM A UNITED FRONT TO COMPEL PRESIDENT TRUMP TO BACK OFF HIS TARIFFS.

CHINESE STATE MEDIA IS REPORTING THE COUNTRY’S PREMIER HAD A PHONE CALL WEDNESDAY WITH EUROPEAN COMMISSION PRESIDENT URSULA VON DER LEYEN,  HOPING TO WORK TOGETHER TO QUOTE “STRENGTHEN COMMUNICATION AND EXCHANGES, AND DEEPEN CHINA-EU TRADE, INVESTMENT AND INDUSTRIAL COOPERATION.”

THE TWO COUNTRIES ARE EACH OTHER’S LARGEST TRADING PARTNERS.

MEANWHILE, ALL MEMBER COUNTRIES OF THE EUROPEAN UNION — EXCEPT HUNGARY — VOTED WEDNESDAY TO IMPOSE TARIFFS ON CERTAIN AMERICAN PRODUCTS STARTING NEXT WEEK.

THAT VOTE IN RESPONSE TO AN EARLIER SET OF U-S MEASURES SLAPPING 25 PERCENT TARIFFS ON EUROPEAN STEEL AND ALUMINUM.

L3: HOUSE REPUBLICAN LEADERS DELAY BUDGET VOTE OVER GOP OPPOSITION

IN A MOVE SPEAKER MIKE JOHNSON SAYS IS JUST “ALL PART OF THE PROCESS” — HOUSE REPUBLICAN LEADERS DELAYED A VOTE ON THE SENATE’S MULTI-TRILLION DOLLAR BUDGET FRAMEWORK — MEANT TO ADVANCE PRESIDENT TRUMP’S DOMESTIC AGENDA — AFTER DAYS OF NEGOTIATIONS.

THE VOTE WAS SUPPOSED TO BE HELD WEDNESDAY night, BUT IT BECAME CLEAR IT WOULD NOT PASS WITH MORE THAN A DOZEN REPUBLICANS SAYING THEY WOULD NOT BACK THE BILL.

HOUSE G-O-P LEADERS CONTINUED TO MEET WITH HOLDOUTS LATE into WEDNESDAY NIGHT AND ARE REPORTEDLY CONSIDERING TWEAKS TO GET THEM ON BOARD.

REPUBLICANS HOLD A SLIM MAJORITY IN THE HOUSE AND WILL NEED pretty much UNANIMOUS AGREEMENT TO PASS THE BUDGET — WHICH SETS THE FRAMEWORK FOR NEW TAX, IMMIGRATION, DEFENSE AND ENERGY MEASURES.

L3: TRUMP PRAISES DEMOCRATIC GOVERNOR IN UNEXPECTED OVAL OFFICE MEETING

VIEWED AS A POSSIBLE DEMOCRATIC PRESIDENTIAL CANDIDATE IN 2028, MICHIGAN GOVERNOR GRETCHEN WHITMER WAS AT THE WHITE HOUSE ON WEDNESDAY.

AND IT WAS A BIT OF MIXED BAG IN TERMS OF POLITICAL TWISTS AND TURNS.

SHE WAS THERE TO TALK ABOUT STATE ISSUES SUCH AS FUNDING FOR AN AIR NATIONAL GUARD BASE.

HOWEVER, PRESIDENT TRUMP INVITED HER INTO THE OVAL OFFICE FOR A SIGNING CEREMONY WHERE HE SAID THE DEMOCRAT HAS REALLY DONE AN EXCELLENT JOB AND IS A VERY GOOD PERSON.

SHE THEN STOOD IN THE BACK AS THE PRESIDENT SIGNED EXECUTIVE ORDERS DIRECTING FEDERAL AGENCIES TO REVOKE SECURITY CLEARANCES AND REVIEW THE ACTIVITIES OF TWO HIGH-LEVEL FORMER GOVERNMENT OFFICIALS, WHO QUESTIONED HIS CLAIMS OF ELECTION FRAUD IN 2020.

HE AGAIN SAID THE ELECTION WAS RIGGED.

ONE DEMOCRATIC OPERATIVE CALLED THE BI-PARTISAN PHOTO OP, A DISASTER.

WHITMER’S SPOKESPERSON LATER SAID HER PRESENCE WAS NOT AN ENDORSEMENT OF THE ACTIONS TAKEN OR STATEMENTS MADE AT THE EVENT. 

EARLIER, WHITMER ANGERED SOME FELLOW DEMOCRATS WHEN MAKING A POLICY SPEECH.

WHILE COMMENTING ON THE PRESIDENT’S TARIFF POLICY SHE SAID SHE WAS NOT AGAINST TARIFFS OUTRIGHT AND SHE UNDERSTANDS TRUMP’S MOTIVATION FOR IMPOSING THEM.

L3: TEXAS, NEW YORK JUDGES BLOCK DEPORTATIONS OF VENEZUELANS TO EL SALVADOR

TWO FEDERAL JUDGES HAVE ISSUED SEPARATE ORDERS STOPPING THE TRUMP ADMINISTRATION FROM USING AN 18-TH CENTURY WARTIME LAW TO DEPORT VENEZUELANS,  ACCUSED OF BEING VIOLENT GANG MEMBERS,  TO EL SALVADOR.

THE RULINGS OUT OF NEW YORK AND TEXAS CAME IN DIRECT RESPONSE TO A MONDAY U.S. SUPREME COURT DECISION THAT WAS A VICTORY FOR THE TRUMP ADMINISTRATION. 

THE SUPREME COURT RULED MIGRANTS SUBJECT TO DEPORTATION UNDER WHAT’S KNOWN AS THE ALIEN ENEMIES ACT MUST BE GIVEN NOTICE **BEFORE** BEING DEPORTED — SO THEY CAN CHALLENGE IT IN COURT.

HOWEVER — THE JUSTICES RULED THOSE CHALLENGES MUST BE ISSUED IN THE PLACES WHERE THE SUSPECTED ILLEGAL IMMIGRANTS ARE BEING HELD.

U-S IMMIGRATION AUTHORITIES ALREADY DEPORTED MORE THAN 100 MIGRANTS TO A NOTORIOUS PRISON IN  EL SALVADOR — **WITHOUT** LETTING THEM CHALLENGE THEIR REMOVALS IN COURT.

MEANTIME IN A NEW DEVELOPMENT.  THE  FBI IN Mobile, ALABAMA  announced  the agency arrested six suspected members of Tren de Aragua ON WEDNESDAY, WHO ARE IN THE COUNTRY ILLEGALLY. 

L3: SEARCH SHIFTS FROM RESCUE TO RECOVERY AFTER NIGHTCLUB ROOF COLLAPSE

IN THE DOMINICAN REPUBLIC — MORE THAN 180 PEOPLE ARE NOW CONFIRMED DEAD AFTER A THE ROOF COLLAPSE AT A POPULAR NIGHTCLUB,

DURING A CONCERT THERE TUESDAY.

OFFICIALS SAY RESCUERS HAVE TAKEN MORE THAN 150 SURVIVORS TO LOCAL HOSPITALS.

NOW, EFFORTS ARE SHIFTING TO RECOVERY MODE AS HOPES OF FINDING MORE SURVIVORS DWINDLE. NO ONE HAS BEEN PULLED FROM THE RUBBLE ALIVE IN MORE THAN 24 HOURS.

THE HEAD OF THE COUNTRY’S EMERGENCY OPERATIONS SAYS CREWS WILL CONTINUE TO WORK UNTIL THE LAST BODY IS FOUND.

THE EXACT NUMBER OF PEOPLE INSIDE THE CLUB AT THE TIME OF THE COLLAPSE REMAINS UNCLEAR. THE INVESTIGATION INTO THE CAUSE OF THE COLLAPSE IS ONGOING.

L3: LEBRON JAMES BECOMES FIRST MALE ATHLETE TO BE DEPICTED AS A ‘KEN’ DOLL

FINALLY THIS MORNING — AS IF HIS STATUS AS A LEGENDARY BASKETBALL PLAYER  WAS NOT ENOUGH, IT’S NOW CLEAR LEBRON JAMES IS “KEN-OUGH.”

THE STAR BALLER IS NOW THE FIRST PROFESSIONAL MALE ATHLETE TO HAVE HIS LIKENESS DEPICTED IN A KEN DOLL.

HE’S THE FIRST PERSON TO BE FEATURED IN MATTEL’S NEW “KENBASSADOR” SERIES.

SINCE JAMES IS 6 FEET 9, THE DOLL WILL BE ONE INCH TALLER THAN THE STANDARD KEN DOLL.

JAMES ALSO COLLABORATED WITH DESIGNERS AT BARBIE TO COORDINATE HIS KEN DOLL’S LOOK, WHICH INCLUDES A BLUE AND WHITE “L-J” VARSITY JACKET, A LEBRON JAMES FAMILY FOUNDATION “WE ARE FAMILY” T-SHIRT, SUNGLASSES, BEATS HEADPHONES, AND — MATCHING BLUE AND WHITE NIKE SNEAKERS.

THE DOLLS OFFICIALLY GO ONE SALE MONDAY — FOR 75 DOLLARS.