The President's Daily Brief
April 10th, 2025: How The World Is Reacting To Trump’s Tariff Pause & Russia’s Spring Offensive Begins
Thu, 10 Apr 2025
In this episode of The President's Daily Brief: President Trump announces a 90-day pause on reciprocal tariffs. We’ll look at the reasons behind the reversal, and how the markets reacted to the news. Ukraine’s military chief confirms Russia’s spring offensive is underway, with heavy activity centered in the northeastern Sumy region. After slashing foreign aid, the Trump administration is now quietly reinstating several emergency programs, including food assistance. And in today’s Back of the Brief: Beijing pushes back against claims that Chinese nationals are fighting alongside Russian troops in Ukraine. To listen to the show ad-free, become a premium member of The President’s Daily Brief by visiting PDBPremium.com. Please remember to subscribe if you enjoyed this episode of The President's Daily Brief. YouTube: youtube.com/@presidentsdailybrief Jacked Up Fitness: Go to https://GetJackedUp.com and use code BAKER at checkout to save 10% off your entire purchase Learn more about your ad choices. Visit megaphone.fm/adchoices
What prompted President Trump to pause reciprocal tariffs for 90 days?
It's Thursday, the 10th of April. Welcome to the President's Daily Brief. I'm Mike Baker, your eyes and ears on the world stage. All right, let's get briefed. We'll start things off with President Trump hitting pause on his reciprocal tariffs for 90 days. We'll look at the reasons behind the reversal and how the markets reacted to the news.
Later in the show, Ukraine's top general says Russia's spring offensive is already underway, centered in the country's northeastern Assumi region. We'll bring you the latest from the front lines. Plus, after slashing foreign aid, the Trump administration is now walking some of it back, quietly reinstating several programs, including those providing emergency food relief.
We'll explain what's changing and why. And in today's Back of the Brief, an update on a story that we brought you yesterday, as Beijing denies that a significant number of Chinese nationals are fighting alongside the Russian army. I guess it just depends on your definition of significant. But first, today's PDB Spotlight.
In a whirlwind turnaround, President Donald Trump announced on Wednesday a 90-day pause on his sweeping global reciprocal tariffs, sending stocks soaring after a week of intense market volatility. The announcement came just hours after the reciprocal tariffs officially took effect. though one country was not granted a reprieve. Care to guess which one?
While announcing the pause, President Trump singled out China for their, quote, lack of respect when it comes to international trade and said he was raising the tariff on imports from our third largest trading partner from 104% to a staggering 125%. That's effective immediately. We should also mention that a 10% baseline tariff on almost all U.S.
imports that was implemented on Saturday will remain in place, as will the 25% tariff on all foreign-made automobiles and the 25% global tariff on imported steel and aluminum. Still, investors were jubilant. Look at that, they're jubilant, with the stock market posting one of its largest rallies in history. The S&P 500 climbed more than 9% on the news. That's its biggest one-day gain since 2008.
And the Dow Jones Industrial Average ended nearly 3,000 points higher, its best day since March 2020. The tech-heavy Nasdaq, meanwhile, oh, listen to me, I sound just like a business reporter, closed up more than 12%, the largest one-day jump for the index since 2001, and its second best day ever. That's according to a report from CNBC.
The news also quelled fears of a looming economic downturn, at least for now, with Goldman Sachs revising their probability of a recession from 65% down to 45%. And when, of course, was the last time you heard anyone use the word quelled.
It's not entirely clear what prompted the turnaround by President Trump, who as recently as Monday said his administration was not considering a pause on the new tariff regime. But in a post to Truth Social on Wednesday, the president said he decided to pump the brakes to allow time for U.S. officials to negotiate new trade deals with targeted countries.
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