Markets experienced a surge after President Trump announced a 90-day pause on most of his so-called reciprocal tariffs, leaving room for possible exemptions for certain U.S. companies. Initially, nearly all U.S. trading partners would face a 10 percent blanket tariff along with a 25 percent tariff on cars, steel, and aluminum. However, China would face an even higher 125 percent tariff in retaliation for its sharp response. The decision to pause the tariffs came in response to market turmoil, prompting economists to warn of potential recession risks.
White House officials insisted that the policy change was a premeditated strategy to secure favorable deals, but Trump acknowledged the decision was made to address the market turbulence, particularly in the bond market.
Following the announcement, the S&P 500 ended the day with a 9.5 percent increase, the largest daily increase since 2008. Equities in Asia also saw substantial gains in countries that were not affected by the imposed tariffs.
Steven Erlanger, who covers trade and diplomacy for The Times, commented that Trump is obsessed with tariffs but also wants favorable deals from countries. It is unclear whether Trump aims to overhaul the entire global trading system or wants countries to come to him for better deals.
In other news, approximately 9,000-10,000 Islamic State fighters are currently detained in northeastern Syria, and a recent U.S. intelligence assessment suggests that the group could exploit the end of the Assad government to free prisoners and increase its ability to plot attacks.
In the world of gun ownership, more American gun owners are preparing for various crises, whether it be fighting tyranny or responding to natural disasters. Training that was once considered peripheral within the so-called “prepper culture” is now becoming more mainstream, with gun owners learning skills such as radio use, night-vision shooting, drone reconnaissance, and military tactics.
Xavier Le Pichon, a French geophysicist who helped advance the understanding of the earth’s crust movements, recently passed away at the age of 87.
In the arts, a new biography and film about Yoko Ono have reignited discussions about her contributions to culture. Pop music critics Jon Pareles and Lindsay Zaladz debated whether these works are worthy of their subject and why the belief that Ono broke up the Beatles has remained so prevailing.
Source: https://www.nytimes.com/2025/04/10/briefing/trump-tariffs-syria.html
