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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Apr 10, 2025
Page
3
President Trump abruptly paused most nations tariffs for 90 days while increasing Chinese duties to 125 percent. Markets welcomed the move as investors watched bond prices and inflation expectations shift. Canada and Mexico face up to 25 percent due to fentanyl controls.
On a euphoric Wednesday, U S stocks jumped with the S P 500 up 9.5 percent, the Dow rising about 2,962 points and the Nasdaq up 12.2 percent as President Trump paused most reciprocal tariffs for 90 days while keeping a 10 percent levy on many imports.
Washington GOP lawmakers at a luncheon express relief after President Trump signals a 90 day pause on most tariffs except China. Senators say market volatility and economic risk justify cautious negotiation while praising the president's broader economic vision amid intra party concern and Democratic criticism of executive chaos.
Oil prices fell to levels not seen since February 2021 amid fear of slowed growth from a growing trade war. Prices later rose about 2 percent after President Trump paused most tariffs for 90 days, with U S benchmark crude at 60.79 and Brent at 63.90 as markets priced in the brief pause and ongoing tensions. Delta Air Lines cut 2025 forecasts as demand and travel spending waver, while analysts warned of a looming recession amid global trade uncertainty.
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