Global markets rally after Trump pauses 'reciprocal' tariffs

Good morning, I'm Craig DeGrelli. 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% American tariffs

And more legal wrangling when it comes to the Trump administration's deportation

of suspected members of the Venezuelan gang Trendy Aragua, and the use of the Alien Enemies

Act. Also, additional arrests to report this morning. From the Straight Arrow News Studio

bringing the stories that matter to you from across the United States and around the world

these are today's unbiased updates. 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 sell-offs driven by fears of escalating trade wars and possible

recessions. Japan's Nikkei was up 8%, while the broader Topics Index by more than 7.5%

South Korea's KOSPI increased by nearly 6%, while Taiwan's Tyax jumped more than 9%

percent and Australia's ASX 200 rose 4.6 percent. Even key Chinese markets were in the green

despite President Trump isolating and calling out China while raising tariffs on goods coming from

the communist country well above 100 percent. Straight Arrow News reporter Kara Rucker has

details on President Trump's latest move that sent the American markets soaring. President Trump

announced a 90-day pause on the full effect of his tariffs for most countries Wednesday

but not China. Trump saying via Truth Social, the pause includes lowered reciprocal tariffs

effective immediately for nations who have not retaliated against the U in any way shape or form The president announcing he excluding Beijing because of what he deems a lack of respect for

world markets. Instead, Trump says he's raising tariffs against China to 125 percent and wrote

at some point, hopefully in the near future, China will realize that the days of ripping off

the USA and other countries is no longer sustainable or acceptable. Trump says he came

to the decision to pause tariffs on other nations due to more than 75 countries reaching out to the

U.S. over concerns about tariffs announced on what he dubbed Liberation Day. That was our Kara

Rucker reporting. On Wall Street, the Dow, Nasdaq and S&P 500 futures are down this morning ahead

of trading. China is reportedly now contacting other nations in an 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. Meantime, 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

To Capitol Hill, 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 GOP leaders continue 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

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 a 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. Trump again said the election was rigged

One Democratic operative called the bipartisan 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 President Trump's tariff policy, she said she was not against tariffs outright and she understands Trump's motivation for imposing them

Two federal judges have now issued separate orders stopping the Trump administration from using an 18th 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 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 Trende Aragua on Wednesday who are in the country illegally

In the Dominican Republic, more than 180 people are now confirmed dead after the roof collapsed 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 catastrophe is ongoing. Finally this morning, as if his status as a legendary basketball player was not enough

it's now clear LeBron James is Ken enough. The NBA star 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 6'9", 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 LJ varsity jacket, a LeBron James Family Foundation We Are Family t-shirt

sunglasses, Beats headphones, and matching blue and white Nike sneakers. The doll officially goes on sale Monday for $75

I guess you could say the bobblehead is now old news. Those are your unbiased updates for this Thursday

We'll see you back here tomorrow. For all of us here at Straight Arrow News, I'm Craig DeGrelli. Have a great day